John S. Greenlees () (U.S. Bureau of Labor Statistics) Elliot Williams () (U.S. Bureau of Labor Statistics)
Abstract
Production capital and technology (i.e., total factor productivity) in U.S. manufacturing are fundamental for understanding output and productivity growth of the U.S. economy but are unobserved at this level of aggregation and must be estimated before being used in empirical analysis. Previously, we developed a method for estimating production capital and technology based on an estimated dynamic structural economic model and applied the method using annual SIC data for 1947-1997 to estimate production capital and technology in U.S. total manufacturing. In this paper, we update this work by reestimating the model and production capital and technology using annual SIC data for 1949-2001 and partly overlapping NAICS data for 1987-2005.
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Publisher Info
Paper provided by U.S. Bureau of Labor Statistics in its series Working Papers with number
431.
Length: 22 pages Date of creation: Oct 2009 Date of revision: Handle: RePEc:bls:wpaper:ec090090
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Find related papers by JEL classification: C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation