The Effects of Capacity Utilization on the Measurement of Total Factor Productivity Growth -Some Findings from Japanese Manufacturing in 1960-1995-

DOI HANDLE Web Site Open Access

Bibliographic Information

Other Title
  • 稼働率内生型モデルによるＴＦＰ成長率の計測―日本の製造業1960-95年―
  • 寄書 稼働率内生型モデルによるTFP成長率の計測--日本の製造業1960-95年
  • キショ カドウリツ ナイセイガタ モデル ニ ヨル TFP セイチョウリツ ノ ケイソク ニホン ノ セイゾウギョウ 1960 95ネン

Search this article

Abstract

In this paper, TFP growth rates for 10 Japanese manufacturing sectors were measured under a short-run equilibrium model in which capital stock is assumed to be quasi-fixed. Using a short-run generalized Leontief cost function, joint estimation of markups, scale economies, and capacity utilization gave the following results : (1). The variation in adjusted TFP growth rates for all industries turned out considerably less than that estimated from the conventional growth accounting analysis. (2). Both adjustments for capacity utilization and economies of scale have contributed to this, but a significant portion of productivity declines since 1991 was found to be due to capacity utilization fluctuations rather than technical change factors.

Journal

  • 経済研究

    経済研究 52 (4), 359-366, 2001-10-15

    岩波書店

Details 詳細情報について

Report a problem

Back to top