Measuring the Rate of Technological Progress in Structures (2000)
Michael Gort, Jeremy Greenwood, Peter Rupert
How much technological progress has there been in structures? An attempt is made to measure this using panel data on the age and rents for buildings. This data is interpreted through the eyes of a...
Measuring the Rate of Technological Progress in Structures (1998)
Gort, Michael, Greenwood, Jeremy, Rupert, Peter
Also published as Federal Reserve Bank of Cleveland Working Paper #9806; and in the Review of Economic Dynamics v2, n1 (January 1999): 207-30. Journal homepage
Bibliographical footnotes.
Decomposing Learning by Doing in New Plants.
Bahk, Byong-Hong, Gort, Michael
This paper examines learning by doing in the context of a production function in which the other arguments are labor, human capital, physical capital, and vintage as a proxy for embodied technical...
The Life Cycles of Industrial Plants
The paper presents a dynamic programming model with multiple classes of capital goods to explain capital expenditures on existing plants over their lives. The empirical specification shows that the...
The Demand for Human Capital: A Microeconomic Approach
We propose a model for explaining the demand for human capital based on a CES production function with human capital as an explicit argument in the function. The resulting factor demand model is...
The Survival of Industrial Plants
Michael Gort, J. Bradford Jensen, Seong-Hoon Lee
The study seeks to explain the attrition rate of new manufacturing plants in the United States in terms of three vectors of variables. The first explains how survival of the fittest proceeds through...
A Model of Diffusion In the Production of an Innovation
Michael Gort, Akira Konakayama
This paper is an attempt to explain diffusion in the production of an innovation. Diffusion in production is defined as the increase in number of producers, or net entry, in the market for a new...
Accounting for capital consumption and technological progress
Methods currently used to calculate capital consumption, the stock of capital, and the sources of economic growth do not adequately measure the underlying growth in inputs due to technological...
Defining capital in growth models
Michael Gort, Saqib Jafarey, Peter Rupert
This article analyzes the measurement of the capital stock when technological advance is embodied in capital. The source of the problem is that capital is not homogeneous across vintages. Which...
Measuring the Rate of Technological Progress in Structures
Michael Gort, Jeremy Greenwood, Peter Rupert
How much technological progress has there been in structures? An attempt is made to measure this using panel data on the age and rents of buildings. The data are interpreted with the help of a...
How much of economic growth is fueled by investment-specific technological progress?
Michael Gort, Jeremy Greenwood, Peter Rupert
Discovering how economies grow is vitally important for economists and policymakers alike. This Commentary shows that more than half of U.S. economic growth can be attributed to technological advance...
Managerial Efficiency, Organizational Capital and Productivity
The paper focuses on the impact of managerial efficiency on output. Three sources of managerial efficiency are identified: (a) superior initial managerial endowments, (b) the accumulation of...
The Survival of Industrial Plants
Michael Gort, J. Bradford Jensen, Seong-Hoon Lee
The study seeks to explain the attrition rate of new manufacturing plants in the United States in terms of three vectors of variables. The first explains how survival of the fittest proceeds through...
The Demand for Human Capital: A Microeconomic Approach
We propose a model for explaining the demand for human capital based on a CES production function with human capital as an explicit argument in the function. The resulting factor demand model is...
The Life Cycles of Industrial Plants
The paper presents a dynamic programming model with multiple classes of capital goods to explain capital expenditures on existing plants over their lives. The empirical specification shows that the...
Decomposing Learning By Doing in New Plants
Byong-Hyong Bahk, Michael Gort
The paper examines learning by doing in the context of a production function in which the other arguments are labor, human capital, physical capital, and vintage as a proxy for embodied technical...
Byong-Hyong Bahk, Michael Gort, Richard A Wall
A production function is specified with human capital as a separate argument and with embodied technical change proxied by a variable that measures the average vintage of the stock of capital. The...
Measuring the rate of technological progress in structures
Michael Gort, Jeremy Greenwood, Peter Rupert
An effort to measure technological progress in structures by using panel data on the age and rents of buildings in a vintage capital model, where buildings are replaced at some chosen periodicity. It...
The Evolution of Markets and Entry, Exit and Survival of Firms.
Agarwal, Rajshree, Gort, Michael
This paper examines entry, exit, and the survival of firms in terms of evolutionary changes in the market from the first introduction of a product to maturity of the market. It is shown that both...
Competition and Productivity Growth: The Case of the U.S. Telephone Industry.
The article focuses on the relation of competition to changes in productivity. Specifically, it compares the experience of AT&T Long Lines, operating in an increasingly competitive market, with that...
Mergers, Capital Gains, and Productivity: Evidence from U.S. Telecommunications Mergers
The article examines the effects of two horizontal mergers on the performance of the respective operating companies. The effects of the mergers are investigated by comparing the performance of the...