Efficiency and Productivity
http://lists.repec.org/mailman/listinfo/nep-eff
Efficiency and Productivity
2024-03-04
Learning by Doing, Productivity, and Growth: New Evidence on the Link between Micro and Macro Data
http://d.repec.org/n?u=RePEc:wvu:wpaper:24-02&r=eff
Research suggests athletic performances are well-measured proxies for technological progress. This paper uses a century of auto and foot racing data to analyze technological changes in microeconomic learning-by-doing (LBD), observed as declining elapsed times, and macroeconomic aggregates like total factor productivity (TFP). The pace of LBD in athletics also declined around the 1973 Productivity Slowdown and varies widely across time and athletes. Auto racing speeds mainly reflect technological changes in capital (cars) and share a common stochastic trend with TFP (cointegration). Speeds error correct to TFP, but not vice versa, affirming TFP diffusion assumed in basic macro growth models.
Brad R. Humphreys
Scott Schuh
Corey J.M. Williams
Technological progress; learning by doing; TFP; labor productivity; autoracing, track and  field, RBC model, cointegration, error correction, Indianapolis 500;NHRA Winternationals
Productivity, innovation and economic growth: understanding the embodied and disembodied contributions of factor inputs
http://d.repec.org/n?u=RePEc:col:000383:000053&r=eff
The role of productivity measurement in the assessment of the decoupling hypothesis–which suggests divergent paths between productivity and the labor income share–is investigated using a detailed dataset on quality-adjusted-production-factors across economic sectors in the Colombian economy over 1990-2019. The quality adjustment is found to increase the contribution of production factors, and to attenuate the contribution of productivity to value added growth. Cointegration relationships between alternative productivity indicators and the labor share do not hold at the aggregate level. But they hold for a number of industries. Short-run robust negative relationships arise for all sectors. But comparison between alternative measures of productivity leads to conclude that quality adjusted measures of productivity has the potential to improve model specification on the econometric assessment of the decoupling effect.
Perilla Jiménez, Juan Ricardo
Productivity; growth accounting; time series cointegration; panel data
2023-05-05
Synergy in environmental compliance, innovation and export on SMEs' growth
http://d.repec.org/n?u=RePEc:drm:wpaper:2024-1&r=eff
Although numerous studies examine the impacts of environmental compliance and innovation on a firm's economic performance, the role of export activities in this nexus has remained unanswered. In this study, we revisit the Porter hypothesis by investigating synergy strategies of dierent environmental and economic practices (i.e., environmental compliance, product innovation, process innovation and having export activities) on total factor productivity (TFP) of Vietnamese manufacturing SMEs. Our results suggest that while encouraging either product or process innovation is also essential in the environment-promoting policy, joint implementation of these two practices should be carefully considered by managers. Moreover, entering export markets positively impacts rms' productivity; complying with the domestic/local environmental standards could signicantly increase the chances for SMEs to enter the export markets
Phu Nguyen-Van
Tuyen Tiet
Quoc Tran-Nam
Environmental compliance; Export; Product innovation; Process innovation; Productivity; SMEs
2024
L’impact de l’inflation sur la distribution des gains de productivité de l’agriculture française
http://d.repec.org/n?u=RePEc:ies:wpaper:e202403&r=eff
It is imperative to consider the impact of monetary erosion when examining the distribution of productivity gains through variations in the prices of inputs and outputs within the agricultural sector. In this study, we will utilize productivity surplus accounts to comprehensively analyze how monetary erosion affects the allocation of price advantages among stakeholders involved in agricultural production. In light of the current backdrop of resurging general inflation and a reversal in food price trends, we then present an empirical analysis of productivity gains in the French agriculture sector spanning from 1959 to 2022. Our objective is to precisely assess how inflation affects the distribution of the productivity surplus among the various participants in the process, including customers, farmers, suppliers, the government, landowners, financial institutions, and others.
Jean-Philippe Boussemart
Salomé Kahindo
Raluca Parvulescu
total factor productivity, surplus account, inflation, agriculture
2024-01
Advancing Hospital Sustainability: A Multidimensional Index Integrating ESG and Digital Transformation
http://d.repec.org/n?u=RePEc:pra:mprapa:119930&r=eff
Today, most healthcare costs in Japan depend on insurance premiums and public funds. Since the working population supports both groups, it will be difficult to maintain medical expenses in the future due to further declining birth rates and an aging society. Therefore, the sustainability of hospitals is a serious issue. While many methods have been developed to evaluate hospital performance and effectiveness, only some have been used to evaluate sustainability. Against this background, this study develops a comprehensive evaluation system that integrates ESG and digital transformation (DX) into a hospital efficiency and effectiveness assessment. We utilize open databases on hospital performance, financial reports, and scraped information disclosed on hospital websites. SBM (slack-based model)-DEA and super efficiency SBM-DEA were combined to assess hospital sustainability, including overall sustainability and three dimensions of hospital efficiency, effectiveness, and ESG/DX. The results showed that ESG/DX performance, efficiency, and effectiveness positively correlated with hospital sustainability in all groups of hospitals. It also showed that while effectiveness and ESG/DX performance positively contribute to operational efficiency in smaller hospitals, ESG/DX performance negatively contributes to profitability. In rehabilitation hospitals, effectiveness contributes negatively to profitability, indicating that improving effectiveness requires more significant costs than in other hospitals. These findings indicated that while ESG, DX, and effectiveness improve hospital sustainability, the costs of promoting ESG/DX are significant for smaller and rehabilitation hospitals. This index could benefit hospital management and policy recommendations regarding promoting ESG and DX.
Takeda, Midori
Xie, Jun
Kurita, Kenichi
Managi, Shunsuke
Hospital; Sustainability; ESG; SBM-DEA; Super-efficiency DEA
2024
Strapped for cash: the role of financial constraints for innovating firms
http://d.repec.org/n?u=RePEc:ehl:lserod:121322&r=eff
This paper makes use of a reform that allowed firms to use patents as stand-alone collateral, to estimate the magnitude of collateral constraints and to quantify the aggregate impact of these constraints on misallocation and productivity. Using matched firm-bank data for Norway, we find that bank borrowing increased for firms affected by the reform relative to the control group. We also find an increase in the capital stock, employment and innovation as well as equity funding. We interpret the results through the lens of a model of monopolistic competition with potentially collateral constrained heterogeneous firms. Parameterizing the model using well-identified moments from the reduced form exercise, we find quantitatively large gains in output per worker in the sectors in the economy dominated by constrained (and intangible-intensive) firms. The gains are primarily driven by capital deepening, whereas within-industry misallocation plays a smaller role.
Bøler, Esther Ann
Moxnes, Andreas
Ulltveit-Moe, Karen Helene
intangible capital; patents; credit constraints; misallocation; productivity
2023-03-14
Declining Responsiveness at the Establishment Level: Sources and Productivity Implications
http://d.repec.org/n?u=RePEc:fip:fedawp:97755&r=eff
This paper studies competing sources of declining dynamism. Evidence shows that an important component of this decline is accounted for by the reduction in the response of employment to shocks in US establishments. Using a plant-level dynamic optimization problem as a framework for analysis, four potential reasons for this decline are studied: (i) a change in exogenous processes for profits, (ii) an increase in impatience, (iii) increased market power, and (iv) increasing adjustment costs. We identify and quantity the contribution of each of these factors building on a simulated method of moments estimation of our structural model. Our results indicate that the reduction in responsiveness largely reflects increased costs of employment adjustment. Changes in market power, as captured by changes in the curvature of the revenue function, play a minimal role. But, in the presence of rising adjustment costs, measured sales-weighted markups using the recently popular indirect production approach rise substantially, along with rising dispersion and skewness of such measured markups.
Russell W. Cooper
John Haltiwanger
Jonathan L. Willis
declining dynamism; adjustment costs; employment
2024-02-14
Cloud Computing and Extensive Margins of Exports - Evidence for Manufacturing Firms from 27 EU Countries
http://d.repec.org/n?u=RePEc:lue:wpaper:427&r=eff
The use of cloud computing by firms can be expected to go hand in hand with higher productivity, more innovations, and lower costs, and, therefore, should be positively related to export activities. Empirical evidence on the link between cloud computing and exports, however, is missing. This paper uses firm level data for manufacturing enterprises from the 27 member countries of the European Union taken from the Flash Eurobarometer 486 survey conducted in February – May 2020 to investigate this link. Applying standard parametric econometric models and a new machine-learning estimator, Kernel-Regularized Least Squares (KRLS), we find that firms which use cloud computing do more often export, do more often export to various destinations all over the world, and do export to more different destinations. The estimated cloud computing premium for extensive margins of exports is statistically highly significant after controlling for firm size, firm age, patents, and country. Furthermore, the size of this premium can be considered to be large. Extensive margins of exports and the use of cloud computing are positively related.
Joachim Wagner
Cloud computing, exports, firm level data, Flash Eurobarometer 486, kernel-regularized least squares (KRLS)
2024-02
Does green innovation crowd out other innovation of firms? Based on the extended CDM model and unconditional quantile regressions
http://d.repec.org/n?u=RePEc:arx:papers:2401.16030&r=eff
In the era of sustainability, firms grapple with the decision of how much to invest in green innovation and how it influences their economic trajectory. This study employs the Crepon, Duguet, and Mairesse (CDM) framework to examine the conversion of R&D funds into patents and their impact on productivity, effectively addressing endogeneity by utilizing predicted dependent variables at each stage to exclude unobservable factors. Extending the classical CDM model, this study contrasts green and non-green innovations' economic effects. The results show non-green patents predominantly drive productivity gains, while green patents have a limited impact in non-heavy polluting firms. However, in high-pollution and manufacturing sectors, both innovation types equally enhance productivity. Using unconditional quantile regression, I found green innovation's productivity impact follows an inverse U-shape, unlike the U-shaped pattern of non-green innovation. Significantly, in the 50th to 80th productivity percentiles of manufacturing and high-pollution firms, green innovation not only contributes to environmental sustainability but also outperforms non-green innovation economically.
Yi Yiang
Richard S. J. Tol
2024-01
The need for an industrial policy for long-term growth
http://d.repec.org/n?u=RePEc:ehl:lserod:121983&r=eff
We document and analyse key deficiencies of the Greek economy, with the view to providing new insights and articulate policy proposals. We consider issues which are the purview of both horizontal policies, raising productivity across sectors, and vertical policies, which allow for realignment of activity. With respect to the first dimension, we focus on two specific problem-areas of Greek industry, with high importance: skills and management practices. We also use information from a novel survey on entrepreneurship, technological developments, and regulatory change and examine structural characteristics of innovation and technology adoption of Greek firms, with a focus on the role of size, ownership structure, and global value chain participation. With respect to the second dimension, we provide an overview of Greece’s export performance and analyse its sectoral comparative advantage. In an empirical study we also focus on the determinants of export sophistication. Overall, the collection of our empirical findings provides ample fodder for concrete policy proposals to increase productivity in Greek manufacturing.
Anyfantaki, Sofia
Caloghirou, Yannis
Dellis, Konstantinos
Karadimitropoulou, Aikaterini
Petroulakis, Filippos
skills; management; innovation; knowledge; export sophistication
2024-02-01
Board Gender Diversity And Bank Performance During Covid-19: Did Women Save The Day?
http://d.repec.org/n?u=RePEc:hig:wpaper:94/fe/2024&r=eff
This paper explores the impact of board gender diversity on bank performance during the COVID-19 crisis. Using data from 87 European banks from 2015 to 2021, we show that the presence of women on bank boards had a positive impact on bank profitability during the COVID-19 crisis. This effect is more pronounced in countries where the morbidity rate is higher. Our results suggest a negative relationship between the women on bank boards and bank credit risk during the pandemic. The impact of women on insolvency risk, however, appears only for banks with relatively large boards.
Yuliana Loginova
Maria Semenova
board gender diversity, COVID-19, bank profitability, credit risk
2024
Unintended Consequences? The Changing Composition of Immigration to the UK after Brexit
http://d.repec.org/n?u=RePEc:iza:izadps:dp16728&r=eff
The end of free movement and the introduction of the post-Brexit migration system represent the most important changes to the UK migration system in half a century. Coinciding with the aftereffects of the pandemic, the result has been very large changes both to the numbers of those coming for work and study, and to their composition, both in terms of countries of origin and in the sectors and occupations of new migrants. It has also resulted in a political backlash, resulting in significant further changes to the system announced in December 2023. I discuss the evidence to date of the impact of recent migration trends on the UK economy and labour market, distinguishing between different sectors.
Portes, Jonathan
migration, productivity, labour markets, Brexit
2024-01