Dynamic Models of Productivity and Efficiency

Jati Sengupta and Phillip Fanchon

Chapter 5 in Efficiency, Market Dynamics and Industry Growth, 2009, pp 114-137 from Palgrave Macmillan

Abstract: Abstract In recent times competition has been most intense in the modern high-tech industries such as microelectronics, semiconductors and personal computers. Product and process innovations, economies of scale and learning by doing have intensified the competitive pressure leading to the decline in unit production costs and prices. Thus the average industry productivity growth (i.e. total factor productivity growth in a specific high-tech industry) has achieved a rate of 2.0% growth per year over the period 1958–96 for the US electronic equipment, which includes semiconductors and communications equipment. High productivity growth led to falling unit costs and prices. Our object here is to formulate a set of nonparametric and semi-parametric models of dynamic production and cost frontiers.

Keywords: Production Frontier; Market Dynamics; Capital Input; Unit Production Cost; Industry Growth (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24866-3_5

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DOI: 10.1057/9780230248663_5

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