Superstatistics of Labour Productivity in Manufacturing and Nonmanufacturing Sectors
AbstractLabour productivity distribution (dispersion) is studied within the framework of statistical physics and the result is compared with the outcome of the empirical analysis. Superstatistics is presented as a natural theoretical framework for the productivity distribution. The demand index ê is proposed within this framework as a new business index. Productivity analysis is made on the Japanese data covering smallto-medium to large firms from 1996 to 2006 and the power-law for both firms and workers is established. The demand index ê is evaluated in the manufacturing sector. A new discovery is reported for the nonmanufacturing (service) sector, which calls for an expansion of the superstatistics framework to include the negative temperature range. --
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Bibliographic InfoArticle provided by Kiel Institute for the World Economy in its journal Economics: The Open-Access, Open-Assessment E-Journal.
Volume (Year): 3 (2009)
Issue (Month): 22 ()
Labour productivity; superstatistics; Pareto's Law; business cycle; demand index;
Find related papers by JEL classification:
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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- Masanao Aoki, . "Reconstructing Macroeconomics: A Perspective from Statistical Physics and Combinatorial Stochastic Processes," UCLA Economics Online Papers 390, UCLA Department of Economics.
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- Souma, Wataru & Ikeda, Yuichi & Iyetomi, Hiroshi & Fujiwara, Yoshi, 2009. "Distribution of Labour Productivity in Japan over the Period 1996-2006," Economics Discussion Papers 2009-2, Kiel Institute for the World Economy.
- Aoki, Masanao & Hawkins, Raymond J., 2010. "Non-self-averaging and the statistical mechanics of endogenous macroeconomic fluctuations," Economic Modelling, Elsevier, vol. 27(6), pages 1543-1546, November.
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