Productivity Growth in Dynamic Factor Adjustment for the Japanese Manufacturing Industry
Productivity Growth in Dynamic Factor Adjustment for the Japanese Manufacturing Industry
复制标题
日本制造业动态要素调整的生产率增长
DOI：
10.1080/1226508x.2020.1744466
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发表时间：
2020
影响因子：
1.7
通讯作者：
Sangho Kim
中科院分区：
文献类型：
--
作者：
Sangho Kim and Jong-Ho Park;Sangho Kim
通过使用动态调整成本框架，这项研究分析了日本制造业的动态生产率增长。实证结果表明，劳动力和资本向长期均衡的收敛非常缓慢，而产出供给和要素需求弹性的差异很大，取决于所考虑的时间范围。研究结果还表明，在静态均衡模型中，准固定因素的非均衡效应正偏向于生产率增长。这种偏差很大程度上是由于与要素投资减少相关的负调整成本造成的。规模收益几乎稳步下降，对生产率增长造成了负面的规模效应。
By utilising a dynamic adjustment-cost framework, this study analyses dynamic productivity growth in the Japanese manufacturing industry. Empirical results show that labour and capital are very slow in converging toward the long-run equilibrium, and that output supply and factor demand elasticities vary greatly, depending on the time horizon considered. The results also show that disequilibrium effects of quasi-fixed factors are positively biased toward productivity growth measured in a static equilibrium model. The bias results largely from negative adjustment costs related to the decreasing investment in the factors. There is an almost steady decrease in returns to scale, causing negative scale effects on productivity growth.