Premium
THE SOURCES OF AGGREGATE PRODUCTIVITY GROWTH: US MANUFACTURING INDUSTRIES, 1958–1996
Author(s) -
Krüger Jens J.
Publication year - 2008
Publication title -
bulletin of economic research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 29
eISSN - 1467-8586
pISSN - 0307-3378
DOI - 10.1111/j.1467-8586.2008.00286.x
Subject(s) - productivity , economics , aggregate (composite) , manufacturing , multifactor productivity , total factor productivity , durable good , technological change , technical change , industrial organization , labour economics , microeconomics , business , macroeconomics , materials science , marketing , composite material
The sources of aggregate productivity growth are explored using detailed data for four‐digit US manufacturing industries during 1958–96 and a decomposition formula that allows us to quantify the contribution of structural change. Labour productivity as well as total factor productivity are considered with either value‐added or employment shares serving as aggregation weights. It is shown that structural change generally works in favour of industries with increasing productivity. This effect is particularly strong in the years since 1990, in high‐tech industries and in durable goods producing industries. The impact of the computer revolution can be clearly identified.