Further Model-Based Estimates of U.S. Total Manufacturing Production Capital and Technology, 1949-2005
Baoline Chen and
No 430, Working Papers from U.S. Bureau of Labor Statistics
Production capital and technology (i.e., total factor productivity) in U.S. manufacturing are fundamental for understanding output and productivity growth of the U.S. economy but are unobserved at this level of aggregation and must be estimated before being used in empirical analysis. Previously, we developed a method for estimating production capital and technology based on an estimated dynamic structural economic model and applied the method using annual SIC data for 1947-1997 to estimate production capital and technology in U.S. total manufacturing. In this paper, we update this work by reestimating the model and production capital and technology using annual SIC data for 1949-2001 and partly overlapping NAICS data for 1987-2005.
Keywords: Kalman; filter; estimation; of; latent; variables (search for similar items in EconPapers)
JEL-codes: C50 C81 D24 L60 (search for similar items in EconPapers)
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Journal Article: Further model-based estimates of US total manufacturing production capital and technology, 1949–2005 (2013)
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