The Dynamics Of Plant-Level Productivity In U.S. Manufacturing

Topics:
Organization
Tags:
Heterogeneity,
Shock,
University Of Rochester
Source:
University of Rochester

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Overview: Nowadays work in I.O. has emphasized the importance of firm- and plant-level heterogeneity in total factor productivity. In this paper, we estimate establishment-level productivity for the entire U.S. manufacturing sector from 1976 until 1999 by using the Census Bureau's Longitudinal Research Database combined with the Bureau's Longitudinal Business Database. We characterize the time series proper-ties of establishment-level idiosyncratic shocks to productivity, taking into account aggregate economy-wide and industry-level shocks. We use simulated method of moments estimation to control for short sample bias and to isolate estimation errors from underlying plant heterogeneity. We find that plant-level shocks are less persistent than the previous literature suggests. We also find considerable heterogeneity across plants in terms of the size and persistence of their productivity shocks.

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Format: PDF | Size: 381KB | Date: Sep 2006 | Pages: 43

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