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- Title
Total Factor Productivity Growth and Technical Change in a Profit Function Framework.
- Authors
Karagiannis, Giannis; Mergos, George J.
- Abstract
This paper develops a framework for measuring and decomposing TFP changes, within the parametric approach, by using directly the estimated parameters of a profit function. Two alternative relationships are derived for measuring and decomposing TFP changes via a profit function based on two alternative definitions of the rate of technical change, i.e., input- and output-based. Initially a long-run equilibrium framework is assumed and then the analysis is extended to the case of temporary equilibrium. The latter framework is applied to US agriculture by estimating a translog profit function and analyzing TFP changes during the period 1948-1994.
- Subjects
UNITED States; INDUSTRIAL productivity; PROFIT; TECHNOLOGICAL innovations; PARAMETER estimation; ECONOMIC equilibrium; AGRICULTURE
- Publication
Journal of Productivity Analysis, 2000, Vol 14, Issue 1, p31
- ISSN
0895-562X
- Publication type
Article
- DOI
10.1023/A:1007891811797