Download or read book Productivity Measurement Using Capital Asset Valuation to Adjust for Variations in Utilization written by Ernst R. Berndt and published by Institute for Policy Analysis, University of Toronto. This book was released on 1981 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although a great deal of empirical research on productivity measurement has taken place in the last decade, one issue remaining particularly controversial and decisive is the manner by which one adjusts the productivity residual for variations in capital and capacity utilization. In this paper we use the Marshallian framework of a short run production or cost function with certain inputs quasi-fixed to provide a theoretical basis for accounting for variations in utilization. The theoretical model implies that the value of services from stocks of quasi-fixed inputs should be altered rather than their quantity. This represents a departure from most previous procedures that have adjusted the quantity of capital services for variations in utilization. In the empirical illustration, we employ Tobin's q to measure the shadow value of capital, and find that for the U.S. manufacturing sector, we can attribute about 50% of the traditionally measured decline in productivity growth during 1973-77 to a decline in capacity utilization. Hence, adjusted for utilization, the 1973-77 productivity slowdown in U.S. manufacturing is considerably less than that measured using traditional productivity accounting techniques.
Download or read book International Journal of Development Research and Quantitative Technique Vol 1 No 1 written by and published by Universal-Publishers. This book was released on 2011-09-28 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Productivity Measurement with Adjustments for Variations in Capacity Utilization and Other Forms of Temporary Equilibrium written by Ernst R. Berndt and published by . This book was released on 1986 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Productivity Measurement with Adjustments for Variations in Capacity Utilization and Other Forms of Temporary Equilibrum written by Ernst R. Berndt and published by . This book was released on 1986 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic Factor Demand Models Productivity Measurement and Rates of Return written by M. Ishaq Nadiri and published by . This book was released on 1989 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prucha and Nadiri (1982,1986,1988) introduced a methodology to estimate systems of dynamic factor demand that allows for considerable flexibility in both the choice of the functional form of the technology and the expectation formation process. This paper applies this methodology to estimate the production structure, and the demand for labor, materials, capital and R & D by the U.S. Bell System. The paper provides estimates for short-, intermediate- and long-run price and output elasticities of the inputs, as well as estimates on the rate of return on capital and R & D. The paper also discusses the issue of the measurement of technical change if the firm is in temporary rather than long-run equilibrium and the technology is not assumed to be linear homogeneous The paper provides estimates for input and output based technical change as well as for returns to scale. Furthermore, the paper gives a decomposition of the traditional measure of total factor productivity growth.
Download or read book Measurement Issues and Behavior of Productivity Variables written by Ali Dogramaci and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a set of papers from the leading edge of current research on productivity analysis. The focus is on alternative forms of measurement, methods, and their implications. The book begins with a chapter by V. Corbo and J. de Melo comparing the effects of using different production frontier models for measuring technical efficiency when using census data. The second chapter (by H. Pesaran and R. Tarling) is a detailed analysi·s of measurement of labor and its variations over time. The next two chapters concern the measurement of capital. The first of these is written by M. F. Mohr; the second is by B. M. Fraumeni and D. W. Jorgenson. The final chapter is by I. B. Kravis, A. W. Heston, and R. Summers and concerns the behavior of productivity and service prices. Decisions for improving productivity rely upon explicit as well as implicit assumptions on how productivity is related to a variety of factors. Determining the right relationships hinges on how these factors are measured and how the models are set. This is why better understanding of measurement issues and behavior of variables related to productivity can lead more effective policies. We plan to continue in this series to present the current research of major different schools of thought in the field.
Download or read book On the Economic Interpretation and Measurement of Optimal Capacity Utilization with Anticipatory Expectations written by Catherine J. Morrison and published by . This book was released on 1985 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study builds on recent research giving the notion of capacity utilization clearer economic foundations. In this research optimal output Y* is defined as the minimum point on the firm's short-run average total cost curve, and capacity utilization is then computed as CU=Y/Y*, where Y is actual output. Here I extend these concepts to include adjustment costs due to changes in the stock of capital, and nonstatic expectations of future output demand and input prices. The more general notion of CU is shown to depend on the shadow values of the firm's quasifixed inputs, and is decomposed to isolate the effects of anticipatory expectations. An empirical comparison is then made between traditional indices and alternative economic CU measures, using annual U.S. manufacturing data 1954-80. The calculated indices exhibit plausible patterns, which can be interpreted as the effects of nonstatic expectations and adjustment costs.
Download or read book Journal of Econometrics written by and published by . This book was released on 1986 with total page 850 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book JOURNAL OF BUSINESS ECONOMIC STATISTICS VOLUME 9 NUMBER 1 JANUARY 1991 written by and published by . This book was released on 1991 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1983 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bulletin of the United States Bureau of Labor Statistics written by and published by . This book was released on 1983 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Total Factor Productivity and Electric Utility Regulation written by Philip R. Israilevich and published by . This book was released on 1985 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bulletin of the Bureau of Labor Statistics written by and published by . This book was released on 1971 with total page 934 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unraveling the Productivity Growth Slowdown in the U S Canada and Japan written by Catherine J. Morrison and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measures of productivity growth typically include in the Productivity "residual" the impacts of subequilibrium from fixity of factors, costs of adjustment, returns to scale and markups. This paper proposes a general two part framework for adjusting the residual measure to take these impacts into account. Errors computing the weights on output and quasi-fixed input growth in traditional measures are first corrected for both primal- and Cost-side measures. Then the deviation of revenues from costs is used to decompose the full primal measure to identify the differential influences of technical change, utilization fluctuations, scale economies and price margins. Use of the framework is illustrated empirically for the U.S., Japanese and Canadian manufacturing sectors, using an econometric model that allows explicit incorporation and measurement of these influences. The adjusted measures show that a significant amount of cyclical and secular change in measured productivity growth can be attributed to production characteristics other than technical change, particularly scale economies
Download or read book Modeling and Simulation written by and published by . This book was released on 1985 with total page 860 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Measurement of Performance Potential in Manufacturing Establishments written by Willis Kingsley Jordan and published by . This book was released on 1965 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Applications of Modern Production Theory written by Ali Dogramaci and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
