Using investment data to assess the importance of price mismeasurement
By: Diego Comin.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10627; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10627.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Industrial productivity -- Measurement.
Description: "This paper presents a new approach to assess the role of price mismeasurement in the productivity slowdown.  I invert the firm's investment decision to identify the embodied and disembodied components of productivity growth.  With a Cobb-Douglas production function, output price mismeasurement only should affect the latter.  Contrary to the mismeasurement hypothesis, I find that in the Post-War period, disembodied productivity grew faster in the hard-to-measure than in the non-manufacturing easy-to-measure sectors, and that disembodied productivity slowed down less in the hard-to-measure than in the easy-to-measure sectors since the 70's.  These results hold a fortiori when capital and labor are complements"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/11/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.