The dynamics of productivity in the telecommunications equipment industry
The dynamics of productivity in the telecommunications equipment industry
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DOI：
10.2307/2171831
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发表时间：
1996-11-01
期刊：
影响因子：
6.1
通讯作者：
Pakes, A
中科院分区：
文献类型：
--
作者：
Olley, GS;Pakes, A
在过去二十年中，技术变革和放松管制导致电信设备行业发生重大重组。我们的实证重点是估计设备行业的生产函数的参数，然后使用这些估计来分析工厂级生产率的演变。重组涉及重大的进入和退出以及在职人员规模的巨大变化。企业选择是否进行清算，以及如果继续进行清算，选择投入的数量，取决于它们的生产率。这在估计生产函数时产生了选择和不确定性问题。我们的理论重点是提供一个估计算法，明确考虑到这些问题。我们发现，我们的算法产生显着不同的和更合理的生产函数系数的估计比传统的估计程序。使用我们的估计，我们发现放松管制后总生产率增长率的增加。由于我们有工厂层面的数据，我们可以引入指数，更深入地研究这种生产力增长是如何发生的。这些指数表明，生产力的提高主要是由于资本重新分配到生产力更高的企业。
Technological change and deregulation have caused a major restructuring of the telecommunications equipment industry over the last two decades. Our empirical focus is on estimating the parameters of a production function for the equipment industry, and then using those estimates to analyze the evolution of plant-level productivity. The restructuring involved significant entry and exit and large changes in the sizes of incumbents. Firms' choices on whether to liquidate, and on input quantities should they continue, depended on their productivity. This generates a selection and a simultaneity problem when estimating production functions. Our theoretical focus is on providing an estimation algorithm which takes explicit account of these issues. We find that our algorithm produces markedly different and more plausible estimates of production function coefficients than do traditional estimation procedures. Using our estimates we find increases in the rate of aggregate productivity growth after deregulation. Since we have plant-level data we can introduce indices which delve deeper into how this productivity growth occurred. These indices indicate that productivity increases were primarily a result of a reallocation of capital towards more productive establishments.