Capital Operating Time and total Factor Productivity Growth in France

By Francisco d Nadal De Simone, Luc Everaert

June 1, 2003

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Format: Chicago

Francisco d Nadal De Simone, and Luc Everaert. Capital Operating Time and total Factor Productivity Growth in France, (USA: International Monetary Fund, 2003) accessed September 24, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Data on the weekly operating time of capital improve the measurement of effective capital input in production. The production function of the French business sector is found to be consistent with a Cobb-Douglas technology under constant returns to scale. Total factor productivity growth, estimated as an unobservable variable, has declined steadily since the late 1970s, but more slowly since 1994. During the 1990s, a secular increase in shift work raised the operating time of capital and began to contribute positively to growth, albeit only slightly.

Subject: Capacity utilization, Financial institutions, Labor, Production, Productivity, Stocks, Total factor productivity

Keywords: A. production function specification, Business sector, Capacity utilization, Capital service, Capital stock utilization, Cobb-Douglas production function, Labor organization, Output elasticity, Productivity, Stocks, TFP growth, Total factor productivity, WP

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2003/128
Stock No:

WPIEA1282003
ISBN:

9781451935691
ISSN:

1018-5941

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