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The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.
A systematic treatment of dynamic decision making and performance measurement Modern business environments are dynamic. Yet, the models used to make decisions and quantify success within them are stuck in the past. In a world where demands, resources, and technology are interconnected and evolving, measures of efficiency need to reflect that environment. In Dynamic Efficiency and Productivity Measurement, Elvira Silva, Spiro E. Stefanou, and Alfons Oude Lansink look at the business process from a dynamic perspective. Their systematic study covers dynamic production environments where current production decisions impact future production possibilities. By considering practical factors like adjustments over time, this book offers an important lens for contemporary microeconomic analysis. Silva, Stefanou, and Lansink develop the analytical foundations of dynamic production technology in both primal and dual representations, with an emphasis on directional distance functions. They cover concepts measuring the production structure (economies of scale, economies of scope, capacity utilization) and performance (allocative, scale and technical inefficiency, productivity) in a methodological and comprehensive way. Through a unified approach, Dynamic Efficiency and Productivity Measurement offers a guide to how firms maximize potential in changing environments and an invaluable contribution to applied microeconomics.
This is an accessible and wide ranging assessment of the existing evidence and current arguments on East Asian economic development.
This book is a printed edition of the Special Issue "Special issue of Sustainable Asia Conference 2014" that was published in Sustainability
This manual presents the theoretical foundations to productivity measurement, and discusses implementation and measurement issues.
This book investigates the impact of production input factors on the market, consumer and producer energy demand characteristics in 30 industrial sectors for South Korea over the period 1980–2009, and for Japan over the period 1973-2006, with special emphasis placed on the effects of ICT investment on the demand for energy. A dynamic factor demand model is developed, accounting for the adjustment costs that are defined in terms of forgone output from current production. It addresses four key aspects of production and energy demand in manufacturing: first, it establishes the various relationships between different factors of production. Second, it investigates whether the energy demand in the industrial sectors in South Korea would be decreased or increased by substituting/complementing with other input factors such as ICT capital and labor. Third, it looks at sources of growth in the industrial sectors through decomposing the Divisia index based total factor productivity (TFP). Finally it provides appropriate policy recommendations based on these findings. The results of this study may provide industrial sectors’ stakeholders and environmental and industrial policy makers with a flexible model that has the capacity to assess outcomes of various policies under certain scenarios. The factor demand methodology described in this book is very advanced and up-to-date. It can be used when teaching advanced graduate courses and in empirically advanced research. Therefore, it is highly relevant in both teaching as a main or supplementary text and in particular as a reference handbook in conducting empirical research. The focus on ICT effects on energy use makes this book an important addition to the existing literature on industrial development.
Greater data availability has been coupled with developments in statistical theory and economic theory to allow more elaborate and complicated models to be entertained. These include factor models, DSGE models, restricted vector autoregressions, and non-linear models.
The enlargement process, the creation of the Monetary Union and the need to promote further the political and economic integration of Europe have ignited an intense debate at the European level among researchers and policy-makers. Examining the effects that political, legal, and regulatory institutions have on economic development, this book provides new contributions on the political economy of the European constitution. It covers many issues including social protection, fiscal reform and regional policies that are on the table of European policy makers. Furthermore, it provides ideas and analysis of such issues as the problem of voting reform, the centralization and decentralization of the policy process and the allocation of new policy prerogatives at the EU level which are crucial for the design of a new European constitution.
Presents the proceedings of two workshops on productivity measurement and analysis, which brought together representatives of statistical offices, central banks and other officials involved with the analysis and measurement of productivity at aggregate and industry levels.