Misallocation or Mismeasurement?

M. Bils, Peter J. Klenow, Cian Ruane
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引用次数: 91

Abstract

The ratio of revenue to inputs differs greatly across plants within countries such as the U.S. and India. Such gaps may reflect misallocation which hinders aggregate productivity. But differences in measured average products need not reflect differences in true marginal products. We propose a way to estimate the gaps in true marginal products in the presence of measurement error. Our method exploits how revenue growth is less sensitive to input growth when a plant’s average products are overstated by measurement error. For Indian manufacturing from 1985–2013, our correction lowers potential gains from reallocation by 20%. For the U.S. the effect is even more dramatic, reducing potential gains by 60% and eliminating 2/3 of a severe downward trend in allocative efficiency over 1978–2013.
分配不当还是计量不当?
在美国和印度等国,不同工厂的收入与投入的比例差别很大。这种差距可能反映了阻碍总生产率的分配不当。但是,测量平均产品的差异不一定反映真正边际产品的差异。我们提出了一种在存在测量误差的情况下估计真实边际产品差距的方法。我们的方法利用了当工厂的平均产品被测量误差夸大时,收入增长对投入增长的敏感性如何降低。对于1985年至2013年的印度制造业,我们的修正使重新配置的潜在收益降低了20%。对美国来说,影响更为显著,减少了60%的潜在收益,消除了1978-2013年配置效率严重下降趋势的2/3。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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