A Microeconomic Approach to the Measurement of Economic Performance: Productivity Growth, Capacity Utilization, and Related Performance Indicators (Paperback, Softcover Repri)

1 Introduction.- 1.1 Concepts Underlying Productivity Growth and Capacity Utilization Measures.- 1.2 The Theoretical Relationship Between Productivity and Capacity Utilization.- 1.3 Measurement of Performance Indexes in an Economic Framework.- 1.4 Relationships Among These and Other Indicators of Economic Performance.- 2 The Traditional Measurement of Productivity Growth: Theoretical Issues.- 2.1 Single Factor Measures of Productivity Growth.- 2.2 Accounting Measures of Multifactor Productivity.- 2.3. Adaptations to the Traditional Accounting Framework.- 2.4 The Linkage Between Technical Change and Productivity Growth Measures.- 2.5 The Relationship Between Primal and Dual Measures of Productivity Growth.- 3 The Measurement and Interpretation of Capacity Utilization.- 3.1 An Overview of Standard Measures of Capacity Utilization.- 3.2 Incorporating Economics into Capacity Utilization Measurement.- 3.3 Extensions to the Framework for Capacity Utilization Measurement.- 3.4 Cost-Side or Dual Measures of Capacity Utilization.- 4 Interactions Among Measures of Productivity Growth, Returns to Scale and Capacity Utilization.- 4.1 An Analytical Framework for Decomposing Productivity Growth Measures.- 4.2 The Measurement of Biases with Respect to Technical Change.- 4.3 Extensions to the Theory of Technical Change Biases.- 4.4 The Theory and Interpretation of Utilization and Scale Biases.- 5 Empirical Implementation of Productivity Growth Measures and Adjustments.- 5.1 Nonparametric and Simple Parametric Measurement Methods.- 5.2 The Fundamentals of the Parametric Production Theory Approach.- 5.3 An Overview of the Relevant Duality Theory.- 5.4 Specification of Empirically Implementable Restricted Factor Demand Models.- 6 Data Construction for Estimation and Measurement.- 6.1 Developing Non-Capital Data for Empirical Implementation.- 6.2 Difficult Issues Surrounding Capital Data Construction: The Concepts.- 6.3 Difficult Issues Surrounding Capital Data Construction: A Formalization.- 6.4 Aggregation Issues Arising in Data Construction.- 6.5 Index Numbers and Aggregation.- 7 Issues of Econometric Implementation.- 7.1 The Choice of Functions to Use for Empirical Analysis.- 7.2 Possible Functional Forms to Use for Measurement.- 7.3 Some Econometric Problems to Take into Consideration.- 7.4 Representing Firm Behavior Using the Empirical Estimates.- 8 Empirical Evidence on Productivity Growth and Capacity Utilization.- 8.1 What is the "Productivity Growth Slowdown" and Does it Exist?.- 8.2 A Focus on Energy.- 8.3 The Impact of Capacity Utilization and Scale Adjustments.- 8.4 Biases and Their Contribution.- 9 Other Factors Affecting Productivity Growth: Some Recent Developments.- 9.1 The Impact of Obsolescence on the Measurement of Capital Input.- 9.2 Markups and Their Contribution to the Analysis.- 9.3 Some Views of the Impact of Regulation.- 10 Pulling it Together.- 10.1 A Summary of Economic Performance Indicators and Their Interactions.- 10.2 Interpretation Problems with the Parametric Measures.- 10.3 Some Current Work on Extensions to the Production Theory Framework.- 10.4 Other Important Contributions to the Literature on Economic Performance.- 10.5 Final Remarks.- References.- Author Index.