State Productivity Growth: Catching Up and the Business Cycle

V. Eldon Ball, Carlos San Juan and Camilo Ulloa

No 123334, 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington from Agricultural and Applied Economics Association

Abstract: This paper examines the relation between the business cycle and convergence in levels of total factor productivity (TFP) across states. First, we find evidence of convergence in TFP levels across the different phases of the business cycle, but the speed of convergence was much greater during periods of contraction in economic activity than during periods of expansion. Second, we find that technology embodied in capital was an important source of productivity growth in agriculture. As with the rate of catch-up, the embodiment effect was much stronger during low economic activity phases of the business cycle.

Keywords: Production Economics; Productivity Analysis; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Pages: 34
Date: 2012
New Economics Papers: this item is included in nep-eff, nep-fdg and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea12:123334

DOI: 10.22004/ag.econ.123334

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