Fixed Cost, Imperfect Competition and Bias in Technology Measurement: Japan and The United States
In many industries, competition is far from perfect and managerial efficiency (or a fixed cost) varies among firms. However, traditional measurement of technological progress assumes perfect competition and no fixed cost. This paper incorporates these two factors in the technological-progress measur...
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| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2000
|
| Series: | OECD Economics Department Working Papers
no.273 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | In many industries, competition is far from perfect and managerial efficiency (or a fixed cost) varies among firms. However, traditional measurement of technological progress assumes perfect competition and no fixed cost. This paper incorporates these two factors in the technological-progress measurement and investigates the biases caused by their omission. We show that if capital growth exceeds non-capital-input growth and that firms earn a positive pure profit, then traditional measurement underestimates the true technological progress. We apply this methodology to Japanese and US industries, and find that imperfect competition and managerial efficiency are important. However, the magnitude of the bias is not large ... |
| Physical Description: | 1 Online-Ressource (42 Seiten) 21 x 29.7cm. |
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| spelling | Nishimura, Kiyohiko G... VerfasserIn aut Fixed Cost, Imperfect Competition and Bias in Technology Measurement Japan and The United States Kiyohiko G., Nishimura and Masato, Shirai Paris OECD Publishing 2000 1 Online-Ressource (42 Seiten) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.273 In many industries, competition is far from perfect and managerial efficiency (or a fixed cost) varies among firms. However, traditional measurement of technological progress assumes perfect competition and no fixed cost. This paper incorporates these two factors in the technological-progress measurement and investigates the biases caused by their omission. We show that if capital growth exceeds non-capital-input growth and that firms earn a positive pure profit, then traditional measurement underestimates the true technological progress. We apply this methodology to Japanese and US industries, and find that imperfect competition and managerial efficiency are important. However, the magnitude of the bias is not large ... Economics Japan United States Shirai, Masato MitwirkendeR ctb |
| spellingShingle | Nishimura, Kiyohiko G.. Fixed Cost, Imperfect Competition and Bias in Technology Measurement Japan and The United States Economics Japan United States |
| title | Fixed Cost, Imperfect Competition and Bias in Technology Measurement Japan and The United States |
| title_auth | Fixed Cost, Imperfect Competition and Bias in Technology Measurement Japan and The United States |
| title_exact_search | Fixed Cost, Imperfect Competition and Bias in Technology Measurement Japan and The United States |
| title_full | Fixed Cost, Imperfect Competition and Bias in Technology Measurement Japan and The United States Kiyohiko G., Nishimura and Masato, Shirai |
| title_fullStr | Fixed Cost, Imperfect Competition and Bias in Technology Measurement Japan and The United States Kiyohiko G., Nishimura and Masato, Shirai |
| title_full_unstemmed | Fixed Cost, Imperfect Competition and Bias in Technology Measurement Japan and The United States Kiyohiko G., Nishimura and Masato, Shirai |
| title_short | Fixed Cost, Imperfect Competition and Bias in Technology Measurement |
| title_sort | fixed cost imperfect competition and bias in technology measurement japan and the united states |
| title_sub | Japan and The United States |
| topic | Economics Japan United States |
| topic_facet | Economics Japan United States |
| work_keys_str_mv | AT nishimurakiyohikog fixedcostimperfectcompetitionandbiasintechnologymeasurementjapanandtheunitedstates AT shiraimasato fixedcostimperfectcompetitionandbiasintechnologymeasurementjapanandtheunitedstates |