measuring aggregate productivity growth using plant-level data

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RESEARCH SEMINAR IN INTERNATIONAL ECONOMICS RESEARCH SEMINAR IN INTERNATIONAL ECONOMICS Gerald R. Ford School of Public Policy Gerald R. Ford School of Public Policy The University of Michigan The University of Michigan Ann Arbor, Michigan 48109-1220 Ann Arbor, Michigan 48109-1220 Discussion Paper No. 552 Discussion Paper No. 552 Measuring Aggregate Productivity Growth Measuring Aggregate Productivity Growth Using Plant-Level Data Using Plant-Level Data Amil Petrin Amil Petrin University of Chicago University of Chicago and and James Levinsohn James Levinsohn University of Michigan University of Michigan December 2005 December 2005 Recent RSIE Discussion Papers are available on the World Wide Web at: http://www.spp.umich.edu/rsie/workingpapers/wp.html Recent RSIE Discussion Papers are available on the World Wide Web at: http://www.spp.umich.edu/rsie/workingpapers/wp.html

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Page 1: Measuring Aggregate Productivity Growth Using Plant-Level Data

RESEARCH SEMINAR IN INTERNATIONAL ECONOMICS RESEARCH SEMINAR IN INTERNATIONAL ECONOMICS

Gerald R. Ford School of Public Policy Gerald R. Ford School of Public Policy The University of Michigan The University of Michigan

Ann Arbor, Michigan 48109-1220 Ann Arbor, Michigan 48109-1220

Discussion Paper No. 552 Discussion Paper No. 552

Measuring Aggregate Productivity Growth Measuring Aggregate Productivity Growth Using Plant-Level Data Using Plant-Level Data

Amil Petrin Amil Petrin University of Chicago University of Chicago

and and James Levinsohn James Levinsohn

University of Michigan University of Michigan

December 2005 December 2005

Recent RSIE Discussion Papers are available on the World Wide Web at: http://www.spp.umich.edu/rsie/workingpapers/wp.html

Recent RSIE Discussion Papers are available on the World Wide Web at: http://www.spp.umich.edu/rsie/workingpapers/wp.html

Page 2: Measuring Aggregate Productivity Growth Using Plant-Level Data

NBER WORKING PAPER SERIES

MEASURING AGGREGATE PRODUCTIVITYGROWTH USING PLANT-LEVEL DATA

Amil PetrinJames Levinsohn

Working Paper 11887http://www.nber.org/papers/w11887

NATIONAL BUREAU OF ECONOMIC RESEARCH1050 Massachusetts Avenue

Cambridge, MA 02138December 2005

The views expressed herein are those of the author(s) and do not necessarily reflect the views of the NationalBureau of Economic Research.

©2005 by Amil Petrin and James Levinsohn. All rights reserved. Short sections of text, not to exceed twoparagraphs, may be quoted without explicit permission provided that full credit, including © notice, is givento the source.

Page 3: Measuring Aggregate Productivity Growth Using Plant-Level Data

Contractual Versus Generic Outsourcing: The Role of ProximityAmil Petrin and James LevinsohnNBER Working Paper No. 11887December 2005JEL No. L0

ABSTRACT

We define productivity growth as the change in welfare that arises from additional output holding

primary inputs constant. Using this traditional growth-accounting definition, we show that gains may

arise because of plant-level technology shocks, and, in imperfectly competitive settings, from the

reallocation of inputs across plants with differing markups and/or shadow values of primary inputs.

With plant-level data, the alternative and most popular definition of productivity growth looks at the

difference in the first moments of the productivity distribution. We show that this definition adds

an additional term to the growth-accounting measure, which has been called “reallocation.” We

show there is a very weak relationship between the two indexes in almost every 3-digit

manufacturing industry in both Chile from 1987-1996 and Colombia from 1981-1991 - 49 in total -

primarily because this “reallocation” term is large and volatile. We explore the theoretical reasons

for this sharp divergence, in the process uncovering a number of previously unnoticed and

unattractive features of the first-moment definition. For example, it is not tethered to any theoretical

model, it is sensitive to measured units, and it can report positive productivity growth when welfare

has fallen.

Amil PetrinGraduate School of BusinessUniversity of Chicago5807 Woodlawn AvenueChicago, IL [email protected]

James LevinsohnDepartment of EconomicsUniversity of MichiganAnn Arbor, MI 48109-1220and [email protected]

Page 4: Measuring Aggregate Productivity Growth Using Plant-Level Data

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