The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity: Some International Evidence

Marianne Baxter () and Dorsey D. Farr

No 8475, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper explores how accounting for variations in factor utilization rates alters the empirical characteristics of productivity residuals in the United States and Canada. Using data on 19 manufacturing industries, we study the behavior of productivity using three proxies for capital services. We find that adjusting for cyclical movements in capital utilization alters many of the empirical characteristics of productivity, both within and across countries.

JEL-codes: E3 F4 (search for similar items in EconPapers)
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Date: 2001-09
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