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題 名 | How to Measure Productivity Growth When Adjustment is Costly and Prices Are Stochastic=隨機價格與動態成長的衡量 |
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作 者 | 陸怡蕙; | 書刊名 | 經濟論文叢刊 |
卷 期 | 26:1 1998.03[民87.03] |
頁 次 | 頁19-42 |
分類號 | 494.762 |
關鍵詞 | 生產力成長; 動態調整; 隨機價格; Total factor productivity growth; Dynamic adjustment; Stochastic prices; |
語 文 | 英文(English) |
中文摘要 | 本文的主要目的是在提出一個可以同時將隨機價格與動態調整納入衡量生產力 考量的方法。模型中以Wiener process描述廠商對外生價格變動路徑的預期,並將此不確 定性的特質與調整成本模型相結合。這個方法不僅將生產力的文獻擴展至一更具一般性的 領域,同時,藉著將剩餘生產力與生產特質相連接,文中所建立的理論模型可以將非固定 規模報酬、偏離長期均衡與隨機價格對剩餘成長的影響與技術進步區分出來。 |
英文摘要 | This paper synthesizes the effects of both dynamic adjustment and stochastic prices in the measurement of productivity growth. The stochastic features of prices are incorporated into the dynamic growth model using a set of Wiener processes to describe the future evolution of erogenous prices. By directly relating the total factor productivity measures to characteristics of the production technology, the dynamic measure of productivity growth allows the effects of nonconstant returns, disequilibrium and the combined effect due to stochastic prices to be isolated from the technical change component. To show that the proposed methodology is implementable empirically, a simple example is given by applying the methodology to U.S. agriculture production over the period 1948-82. The results indicate that on average, uncertainty in the future evolution of prices has a negative impact on the growth of total factor productivity. |
本系統中英文摘要資訊取自各篇刊載內容。