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Neoclassical growth accounting and frontier analysis: A synthesis

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  • Raa, T. ten

    (Tilburg University)

  • Mohnen, P.

Abstract

The standard measure of productivity growth is the Solow residual. Its evaluation requires data on factor input shares or prices. Since these prices are presumed to match factor productivities, the standard procedure amounts to accepting at face value what is supposed to be measured. In this paper we estimate total factor productivity growth without recourse to data on factor input prices. Factor productivities are defined as Lagrange multipliers to the program that maximizes the level of domestic final demand. The consequent measure of total factor productivity is shown to encompass not only the Solow residual, but also the efficiency change of frontier analysis and the hitherto slippery terms-of-trade effect. Using input-output tables from 1962 to 1991 we show that the source of Canadian productivity growth has shifted from technical change to terms-of-trade effects. Copyright Kluwer Academic Publishers 2002

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Bibliographic Info

Paper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-90106.

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Date of creation: 2002
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Publication status: Published in Journal of Productivity Analysis (2002) v.18, p.111-128
Handle: RePEc:ner:tilbur:urn:nbn:nl:ui:12-90106

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Web page: http://www.tilburguniversity.edu/

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  1. W.E. Diewert & Catherine J. Morrison, 1985. "Adjusting Output and Productivity Indexes for Changes in the Terms of Trade," NBER Working Papers 1564, National Bureau of Economic Research, Inc.
  2. de Jong, G., 1996. "Canada's Post-War Manufacturing Performance: A Comparison with the United States," Papers 32, Groningen State, Institute of Economic Research-.
  3. Perelman, Sergio, 1995. "R&D, Technological Progress and Efficiency Change in Industrial Activities," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 41(3), pages 349-66, September.
  4. Fare, Rolf & Grosskopf, Shawna, 1996. "Productivity and intermediate products: A frontier approach," Economics Letters, Elsevier, vol. 50(1), pages 65-70, January.
  5. Jeffrey I. Bernstein & Pierre Mohnen, 1991. "Price-Cost Margins, Exports and Productivity Growth: With an Application to Canadian Industries," Canadian Journal of Economics, Canadian Economics Association, vol. 24(3), pages 638-59, August.
  6. M. L. Weitzman, 1974. "On the Welfare Significance of National Product in Dynamic Economy," Working papers 125, Massachusetts Institute of Technology (MIT), Department of Economics.
  7. Morrison, Catherine J., 1986. "Productivity measurement with non-static expectations and varying capacity utilization : An integrated approach," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 51-74.
  8. Berndt, Ernst R. & Fuss, Melvyn A., 1986. "Productivity measurement with adjustments for variations in capacity utilization and other forms of temporary equilibrium," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 7-29.
  9. Morrison, Catherine J, 1988. "Quasi-Fixed Inputs in U.S. and Japanese Manufacturing: A Generalized Leontief Restricted Cost Function Approach," The Review of Economics and Statistics, MIT Press, vol. 70(2), pages 275-87, May.
  10. Sickles, Robin C. & Good, David & Johnson, Richard L., 1986. "Allocative distortions and the regulatory transition of the U.S. airline industry," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 143-163.
  11. Hulten, Charles R, 1979. "On the "Importance" of Productivity Change," American Economic Review, American Economic Association, vol. 69(1), pages 126-36, March.
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