Estimated U.S. Manufacturing Production Capital and Technology Based on an Estimated Dynamic Economic Model
Production capital and technology, fundamental to understanding output and productivity growth, are unobserved except at disaggregated levels and must be estimated prior to being used in empirical analysis. We develop and apply a new estimation method, based on advances in economics, statistics, and applied mathematics, which involves estimating a structural dynamic economic model of a representative production firm and using the estimated model to compute Kalman-filtered estimates of capital and technology for the sample period. We apply the method to annual data from 1947-97 for U.S. total manufacturing and compare the estimates with those reported by the Bureau of Labor Statistics.
|Date of creation:||2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49 (89) 9224-0
Fax: +49 (89) 985369
Web page: http://www.cesifo.de
More information through EDIRC
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.:
- Robert J. Gordon, 2000.
"Does the "New Economy" Measure Up to the Great Inventions of the Past?,"
Journal of Economic Perspectives,
American Economic Association, vol. 14(4), pages 49-74, Fall.
- Gordon, Robert J, 2000. "Does the 'New Economy' Measure up to the Great Inventions of the Past?," CEPR Discussion Papers 2607, C.E.P.R. Discussion Papers.
- Robert J. Gordon, 2000. "Does the "New Economy" Measure up to the Great Inventions of the Past?," NBER Working Papers 7833, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:ces:ceswps:_1526. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Julio Saavedra)
If references are entirely missing, you can add them using this form.