The Dynamics of Productivity in the Telecommunications Equipment Industry
The Dynamics of Productivity in the Telecommunications Equipment Industry
复制标题
DOI：
10.3386/w3977
复制
发表时间：
1992-01
期刊：
影响因子：
--
通讯作者：
G. Olley;A. Pakes
中科院分区：
文献类型：
--
作者：
G. Olley;A. Pakes
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。我们估计了设备行业的生产函数的参数，然后使用这些估计来分析这一时期工厂水平生产率的演变。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。由于企业是否清算以及如果继续的话需要多少投入的选择取决于生产率，因此我们使用均衡模型提出一种考虑到生产率与生产率之间关系的估计算法。另一方面是投入需求和生存。估计算法的完全参数化版本在计算上是繁重的，并且需要大量的辅助假设。因此，我们开发了一个半参数技术，这是符合一个相当一般的版本的理论框架和易于使用。该算法产生显着不同的估计生产函数参数和生产力的运动比传统的估计程序。我们发现，在放松管制后，工业生产率的增长率有所提高。尽管工厂的平均生产率增长率没有增加，而且我们的可变要素配置效率指数实际上下降了，但这是以固定要素的现有分配为条件的。然而，放松管制之后，资本被重新分配给生产力更高的企业（通过缩小规模，通常是关闭）。这些因素抵消了其他因素对总生产率的负面影响有余。
Technological change and deregulation have caused a major restructuring of the telecommunications equipment industry over the last two decades. We estimate the parameters of a production function for the equipment industry and then use those estimates to analyze the evolution of plant level productivity over this period. The restructuring involved significant entry and exit and large changes in the sizes of incumbents. Since firms' choices on whether to liquidate and on the quantities of inputs demanded should they continue depend on their productivity, we use an equilibrium model to suggest an estimation algorithm that takes into account the relationship between productivity on the one hand. and both input demand and survival on the other. A fully parametric version of the estimation algorithm would be both computationally burdensome and require a host of auxiliary assumptions. So we develop a semi parametric technique which is both consistent with a quite general version of the theoretical framework and easy to use. The algorithm produces markedly different estimates of both production function parameters and of productivity movements than traditional estimation procedures. We find an increase in the rate of industry productivity growth after deregulation. This in spite of the fact there was no increase in the average of the plants' rates of productivity growth, and there was actually a fall in our index of the efficiency of the allocation of variable factors conditional on the existing distribution of fixed factors. Deregulation was, however, followed by a reallocation of capital towards more productive establishments (by a down sizing, often shutdown. of unproductive plants and by disproportionate growth of productive establishments) which more than offset the other factors' negative impacts on aggregate productivity.