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１０月１７日（火）に行われます、現政研セミナーの日程、場所などにつきましてご案内申し上げます。
【日 時】１０月１７日（火）１０：４０～１２：１０
【場 所】早稲田大学 早稲田キャンパス３号館１０階 第一会議室
【報告者】 鈴木 通雄 先生 （一橋大学 特任准教授）
【タイトル】Decomposition of Aggregate Productivity Growth with Unobserved Heterogeneity
【概要】
Aggregate productivity growth and the role of input reallocation have been hotly debated. Yet, it has received little attention how the measurement of reallocation relies on the commonly-made assumption that a production technology is uniform within an industry. To quantify the effects of unobserved heterogeneity in production technology, we estimate a random-coefficient Cobb-Douglas production function. We identify plant’s type from the distribution of the intermediate input to sales ratio using the first order condition without permanent distortions in intermediate input markets. The empirical analysis uses plant-level data from the Japanese Census of Manufacture. We find that accounting for unobserved heterogeneity lowers the volatility of technical efficiency and reallocation contributions. For knitted garments industry that features large dispersion in the intermediate input share, the average growth rate of the reallocation component over the 5-year period after the bubble burst in Japan is -0.5\% with heterogeneity, while it is 0.4\% without heterogeneity.
【招聘教員】 戸村 肇 先生 （ [email protected] ）
現政研セミナーは広くみなさまにひらかれたセミナーです。
皆様の御参加をお待ちしております。
*English
This notice is to inform you of the WINPEC (Waseda Institute of Political Economy) Seminar on Oct. 17th.
【TIME】17th, October Tuesday, 10:40-12:10
【Venue】The meeting room (conference room) #1, BUILDING 3 – Floor 10.
【Presenter】Michio SUZUKI. (Hitotsubashi University, Adjunct Associate Professor)
【Title】Decomposition of Aggregate Productivity Growth with Unobserved Heterogeneity
【 Abstract 】
Aggregate productivity growth and the role of input reallocation have been hotly debated. Yet, it has received little attention how the measurement of reallocation relies on the commonly-made assumption that a production technology is uniform within an industry. To quantify the effects of unobserved heterogeneity in production technology, we estimate a random-coefficient Cobb-Douglas production function. We identify plant’s type from the distribution of the intermediate input to sales ratio using the first order condition without permanent distortions in intermediate input markets. The empirical analysis uses plant-level data from the Japanese Census of Manufacture. We find that accounting for unobserved heterogeneity lowers the volatility of technical efficiency and reallocation contributions. For knitted garments industry that features large dispersion in the intermediate input share, the average growth rate of the reallocation component over the 5-year period after the bubble burst in Japan is -0.5\% with heterogeneity, while it is 0.4\% without heterogeneity.
【Organizer】Prof. Hajime Tomura
We encourage your participation.
