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Does Output Influence Productivity?-A Meta-Regression Analysis

Author

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  • Ludwig List

    (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique)

Abstract

The goal of this paper is to conduct a meta-regression analysis (MRA hereafter) regarding the effects of the Kaldor-Verdoorn effect-the relation between output/demand and productivity. The Kaldor-Verdoorn effect has been subject to many econometric studies and while the overwhelming majority of them finds a positive overall effect, there is no consensus on its size-the results vary quite a bit, especially according to the chosen econometric specification. This MRA estimates a 'true value' of the Kaldor-Verdoorn effect without interference from potential publication selection bias via the use of multivariate MRA. A series of moderator variables is used to check for their effect of excess variation, including amongst others the year of publication, the sectors and the countries studied. This MRA study uses available data from 22 published studies with 303 estimations of the Kaldor-Verdoorn effect. When examining the primary literature as a whole, there seems to be publication bias. While there seems to exist a genuine Kaldor-Verdoorn effect, its size varies considerably depending on the specification chosen.

Suggested Citation

  • Ludwig List, 2018. "Does Output Influence Productivity?-A Meta-Regression Analysis," CEPN Working Papers hal-01922249, HAL.
    • Handle: RePEc:hal:cepnwp:hal-01922249
    Note: View the original document on HAL open archive server: https://hal.science/hal-01922249
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    Keywords

    Kaldor-Verdoorn effect; Productivity; Meta-regression analysis; Effective demand; Learning by doing;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices

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