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Exploring reallocation's apparent weak contribution to growth

机译:探索重新分配对增长的明显疲软贡献

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Two recent meta-analyses use variants of the Baily et al. (Brookings Papers Econ Act Microecon 1:187-267, 1992) (BHC) decompositions to ask whether recent robust growth in aggregate labor productivity (ALP) across 25 countries is due to lower barriers to input real-location. They find weak gains from measured reallocation and strong within-plant productivity gains. We show these findings may be because BHC indices decompose ALP growth using plant-level output-per-labor (OL) as a proxy for the marginal product of labor and changes in OL as a proxy for changes in plant-level productivity. We provide simple examples to show that (1) reallocation growth from labor should track marginal changes in labor weighted by the marginal product of labor, (2) BHC reallocation growth can be positively correlated, negatively correlated, or uncorrelated with actual growth arising from the reallocation of inputs, and that (3) BHC indices can mistake growth from reallocation as growth from productivity, principally because OL is neither a perfect index of marginal products nor plant-level productivity. We then turn to micro-level data from Chile, Colombia, and Slovenia, and we find for the first two that BHC indices report weak or negative growth from labor reallocation. Using the reallocation definition based on marginal products we find a positive and robust role for labor reallocation in all three countries and a reduced role of plant-level technical efficiency in growth. We close by exploring potential corrections to the BHC decompositions but here we have limited success.
机译:最近的两项荟萃分析使用了Baily等人的变体。 (《布鲁克林论文经济法》微经济1:187-267,1992)(BHC)分解,以问问最近25个国家/地区的总劳动生产率(ALP)的强劲增长是否是由于降低了对输入实地安置的障碍。他们发现,从可衡量的重新分配中获得的收益微不足道,而在工厂内部生产率的收益中却获得了强劲的收益。我们发现这些发现可能是因为BHC指数使用工厂级的每劳动产出(OL)代替了劳动力的边际产品,而OL的变化则代替了工厂级生产率的变化,从而分解了ALP的增长。我们提供了简单的例子来说明(1)劳动力的再分配增长应跟踪由劳动力边际产品加权的劳动力的边际变化;(2)BHC的再分配增长可以与由劳动力的边际产品产生的实际增长成正相关,负相关或不相关投入的重新分配,以及(3)BHC指数可能会将重新分配的增长误认为是生产力的增长,这主要是因为OL既不是边际产品的完美指标,也不是工厂水平的生产率。然后,我们转向智利,哥伦比亚和斯洛文尼亚的微观数据,我们发现前两个BHC指数报告的劳动力再分配增长疲弱或为负。使用基于边际产品的再分配定义,我们发现这三个国家的劳动力再分配都具有积极而强大的作用,而工厂一级的技术效率在增长中的作用却降低了。我们以探索BHC分解的潜在校正为结尾,但在此方面取得的成功有限。

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