| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22437 |
| 来源ID | Working Paper 22437 |
| Production Function Estimation and Capital Measurement Error | |
| Allan Collard-Wexler; Jan De Loecker | |
| 发表日期 | 2016-07-25 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | We look into the impact of measurement error in capital on the estimation of production functions. We introduce an identification scheme and an estimation procedure that jointly deals with measurement error in capital and the standard simultaneity bias due to unobserved productivity shocks. We use lagged investment to instrument for potentially mis-measured capital stock, while conditioning on the part of productivity that is persistent. Our estimation routine nests standard approaches in the literature, such as Ackerberg, Caves, and Frazer (2015). It requires no additional data as investment is usually collected with other producer level data. We show through Monte-Carlo experiments that a 40 percent measurement error in capital yields capital coefficients that are biased downward by a factor of two. We illustrate our approach using data for three distinct economies: China, India and Chile; which experienced radically different processes of capital and productivity dynamics. We find capital coefficients that are typically two times larger than those using standard approaches that only control for simultaneity. |
| 主题 | Microeconomics ; Households and Firms ; Industrial Organization ; Market Structure and Firm Performance ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w22437 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580111 |
| 推荐引用方式 GB/T 7714 | Allan Collard-Wexler,Jan De Loecker. Production Function Estimation and Capital Measurement Error. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22437.pdf（606KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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