Capital Operating Time and total Factor Productivity Growth in France

Francisco Nadal De Simone and Luc Everaert

No 2003/128, IMF Working Papers from International Monetary Fund

Abstract: Data on the weekly operating time of capital improve the measurement of effective capital input in production. The production function of the French business sector is found to be consistent with a Cobb-Douglas technology under constant returns to scale. Total factor productivity growth, estimated as an unobservable variable, has declined steadily since the late 1970s, but more slowly since 1994. During the 1990s, a secular increase in shift work raised the operating time of capital and began to contribute positively to growth, albeit only slightly.

Keywords: WP; Capital stock utilization; total factor productivity; labor organization; TFP growth; Cobb-Douglas production function; business sector; capital service; output elasticity; A. production function specification; Productivity; Capacity utilization; Stocks (search for similar items in EconPapers)
Pages: 20
Date: 2003-06-01
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Citations: View citations in EconPapers (5)

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