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Dynamic Analysis of Structural Change and Productivity Measurement

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Author Info
Førsund, Finn R. () (Dept. of Economics, University of Oslo)
Hjalmarsson, Lennart (Department of Economics, University of Gothenburg)

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Abstract

A dynamic analysis of structural change is reviewed based on a vintage model of substitutability between inputs including capital before investment, but no substitution possibilities after investment, and ex post production possibilities characterised by fixed input coefficients. Key elements in understanding structural change are the entering of capacity embodying new technology and exiting of capacity no longer able to yield positive quasi-rent. Three production function concepts are identified: the ex ante micro unit production function as relevant when investing in new capacity, the ex post micro production function, and the short-run industry production function giving the production possibilities at the industry level. Productivity measurement, taking these types of production functions into consideration, leads to different interpretations of productivity change than traditional approaches not being clear about which production function concept is used.

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File URL: http://www.oekonomi.uio.no/memo/2008/pdf_filer/Memo-27-2008.pdf
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Publisher Info
Paper provided by Oslo University, Department of Economics in its series Memorandum with number 27/2008.

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Length: 31 pages
Date of creation: 01 Oct 2008
Date of revision:
Handle: RePEc:hhs:osloec:2008_027

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Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Phone: 22 85 51 27
Fax: 22 85 50 35
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Web page: http://www.oekonomi.uio.no/indexe.html
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Related research
Keywords: Structural change; productivity measurement; putty-clay; ex ante production function; short-run industry production function;

Find related papers by JEL classification:
C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics

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References listed on IDEAS
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.:
  1. Diewert, W. Erwin & Fox, Kevin J., 2008. "On the estimation of returns to scale, technical progress and monopolistic markups," Journal of Econometrics, Elsevier, vol. 145(1-2), pages 174-193, July. [Downloadable!] (restricted)
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  2. Forsund, Finn R & Hjalmarsson, Lennart, 1979. "Generalised Farrell Measures of Efficiency: An Application to Milk Processing in Swedish Dairy Plants," Economic Journal, Royal Economic Society, vol. 89(354), pages 294-315, June. [Downloadable!] (restricted)
  3. Dale W. Jorgenson, 1966. "The Embodiment Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 74, pages 1. [Downloadable!] (restricted)
  4. Caves, Douglas W & Christensen, Laurits R & Diewert, W Erwin, 1982. "The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity," Econometrica, Econometric Society, vol. 50(6), pages 1393-1414, November. [Downloadable!] (restricted)
  5. Eide, E, 1976. "Do New Factories Embody Potential Best Practice Technology?," Empirical Economics, Springer, vol. 1(2), pages 119-27.
  6. Torstein Bye, Erling Holmøy and Kim Massey Heide, 2006. "Removing policy based comparative advantage for energy intensive production. Necessary adjustments of the real exchange rate and industry structure," Discussion Papers 462, Research Department of Statistics Norway. [Downloadable!]
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