The authors test the hypothesis of a negative long-term trend and/or a structural break in total factor productivi ty after the first oil price shock for West German manufacturing industries within an econometric model based on a flexible cost function with capital as a quasi-fixed factor. After adjusting total factor productivity growth for scale economies and varying capacity utilization, this hypothesis is not supported by their empirical findings for the grea t majority of industries studied, whereas the hypothesis that the (log-)level of total factor productivity follows a random walk with drift is not rejected by various statistical tests. Copyright 1993 by MIT Press.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 75 (1993) Issue (Month): 1 (February) Pages: 57-65 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)