Capital Operating Time and total Factor Productivity Growth in France
IMF Working Papers, June 1, 2003
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- Capital Operating Time and total Factor Productivity Growth in France
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Bibliographic details
- Authors: Francisco d Nadal De Simone, Luc Everaert
- Published: June 1, 2003
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451935691.001
Authors and publication
- By Francisco d Nadal De Simone, Luc Everaert
- June 1, 2003
- IMF Working Papers, Issue: 128, Series: Working Paper No. 2003/128
- Pages: 20
- Volume: 2003
- DOI: https://doi.org/10.5089/9781451935691.001
- Stock No: WPIEA1282003
- ISBN: 9781451935691
- ISSN: 1018-5941
Data and methodological approach
- Uses data on the weekly operating time of capital to improve measurement of effective capital input in production.
- Estimates total factor productivity (TFP) growth as an unobservable variable.
- Assesses the production function of the French business sector for consistency with production-function specifications.
Key empirical findings
- 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 has declined steadily since the late 1970s, but the decline has been more gradual since 1994.
- During the 1990s, a secular increase in shift work:
- Raised the operating time of capital.
- Began to contribute positively to growth, albeit only slightly.
Subject areas and keywords
- 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
Source: IMF Working Paper "Capital Operating Time and total Factor Productivity Growth in France" (June 1, 2003).
Content in this bundle
- Capital Operating Time and Total Factor Productivity Growth in France - WP/03/128