Measuring productivity dispersion: a parametric approach using the Lévy alpha-stable distribution

IF 2.8 4区管理学 Q2 BUSINESS

Industrial and Corporate Change Pub Date : 2024-05-31 DOI:10.1093/icc/dtae021

Jangho Yang, Torsten Heinrich, Julian Winkler, François Lafond, Pantelis Koutroumpis, J Doyne Farmer

引用次数: 0

Abstract

It is well known that value added (VA) per worker is extremely heterogeneous among firms, but relatively little has been done to characterize this heterogeneity more precisely. Here, we show that the distribution of VA per worker exhibits heavy tails, a very large support, and consistently features a proportion of negative values, which prevents log transformation. We propose to model the distribution of VA per worker using the four-parameter Lévy stable distribution, a natural candidate deriving from the generalized central limit theorem, and we show that it is a better fit than key alternatives. Fitting a distribution allows us to capture dispersion through the tail exponent and scale parameters separately. We show that these parametric measures of dispersion can be useful to characterize the evolution of dispersion in recent years.

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衡量生产力离散程度：利用莱维阿尔法稳定分布的参数方法

众所周知，企业间工人人均增加值（VA）具有极大的异质性，但要更精确地描述这种异质性，所做的工作相对较少。在此，我们将展示人均工人增加值的分布情况，其尾部较重，支持度非常大，并且始终存在一定比例的负值，这阻碍了对数变换。我们建议使用四参数莱维稳定分布来模拟工人人均增值的分布，该分布是广义中心极限定理的一个自然候选分布，而且我们发现该分布比其他主要分布的拟合效果更好。拟合分布使我们能够通过尾部指数和规模参数分别捕捉分散性。我们表明，这些参数化的离散度量对于描述近年来离散度的演变非常有用。

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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来源期刊

Industrial and Corporate Change Multiple-

CiteScore

5.10

自引率

4.00%

发文量

期刊介绍： The journal covers the following: the internal structures of firms; the history of technologies; the evolution of industries; the nature of competition; the decision rules and strategies; the relationship between firms" characteristics and the institutional environment; the sociology of management and of the workforce; the performance of industries over time; the labour process and the organization of production; the relationship between, and boundaries of, organizations and markets; the nature of the learning process underlying technological and organizational change.