Keywords: Productive capacity, capacity utilization, productivity growth, embodied technological change, production function
Abstract: This paper introduces a new data set for the analysis of productivity in U.S.
manufacturing. It consists of data on production and input levels when the
plants in an industry operate at capacity. The estimates are consistent with those
obtained using data on actual operations from the ASM. As an application, I use
this data to estimate the rate of growth of technological change that is embodied
in equipment capital. The estimates imply a larger role of equipment investment
and embodied technological change on economic growth than is conventionally
Full paper (219 KB PDF)
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Last update: February 13, 2001