Total Factor Productivity Growth and Technical Change in a Profit Function Framework

Giannis Karagiannis and George Mergos

Journal of Productivity Analysis, 2000, vol. 14, issue 1, 51 pages

Abstract: This paper develops a framework for measuring and decomposing TFP changes, within the parametric approach, by using directly the estimated parameters of a profit function. Two alternative relationships are derived for measuring and decomposing TFP changes via a profit function based on two alternative definitions of the rate of technical change, i.e., input- and output-based. Initially a long-run equilibrium framework is assumed and then the analysis is extended to the case of temporary equilibrium. The latter framework is applied to US agriculture by estimating a translog profit function and analyzing TFP changes during the period 1948–1994. Copyright Kluwer Academic Publishers 2000

Keywords: TFP measurement and decomposition; profit function; technical change (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:kap:jproda:v:14:y:2000:i:1:p:31-51

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DOI: 10.1023/A:1007891811797

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