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22
WDEOH L
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56
TABLE II
Regression Results, Merged CPS{MP Data
16 years
Year ¢lnAs ¢lnA¤
79
0.601
-0.037
(0.210) (0.017)
Skill
14 years
¢lnAs ¢lnA¤
0.434
-0.047
(0.150) (0.020)
De¯nition
12 years
Non{prod. labor
s
¤
¢lnA
¢lnA ¢lnAs
¢lnA¤
0.135
-0.046
0.388
-0.062
(0.106) (0.042) (0.142)
(0.026)
80
0.817
(0.226)
-0.097
(0.019)
0.576
-0.107
(0.160) (0.022)
0.141
(0.111)
-0.087
(0.045)
0.704
(0.139)
-0.164
(0.027)
81
0.173
(0.202)
-0.014
(0.018)
0.059
-0.008
(0.144) (0.021)
-0.132
(0.107)
0.053
(0.043)
0.092
(0.137)
-0.018
(0.027)
82
-0.090
(0.187)
-0.011
(0.019)
-0.163
0.005
(0.139) (0.022)
-0.365
(0.112)
0.130
(0.047)
-0.171
(0.139)
0.016
(0.030)
83
0.303
(0.182)
0.000
(0.020)
0.248
-0.009
(0.142) (0.023)
0.042
(0.119)
0.012
(0.050)
-0.121
(0.134)
0.054
(0.029)
84
0.069
(0.165)
0.040
(0.019)
0.054
0.038
(0.131) (0.022)
-0.073
(0.116)
0.078
(0.050)
-0.077
(0.130)
0.063
(0.028)
85
0.168
(0.158)
-0.013
(0.020)
0.130
-0.016
(0.127) (0.023)
0.087
(0.120)
-0.031
(0.052)
0.182
(0.127)
-0.032
(0.028)
86
0.053
(0.163)
-0.004
(0.020)
0.006
0.000
(0.125) (0.024)
-0.081
(0.125)
0.037
(0.055)
0.025
(0.126)
-0.004
(0.028)
87
-0.020
(0.159)
0.076
(0.020)
-0.038
0.080
(0.126) (0.024)
-0.208
(0.120)
0.164
(0.053)
-0.114
(0.122)
0.098
(0.027)
88
0.066
(0.155)
0.013
(0.019)
0.056
0.011
(0.126) (0.023)
0.108
(0.118)
-0.026
(0.052)
-0.172
(0.119)
0.058
(0.027)
89
0.038
(0.152)
-0.010
(0.020)
0.026
-0.010
(0.121) (0.024)
-0.001
(0.118)
-0.005
(0.053)
-0.131
(0.118)
0.023
(0.027)
90
0.270
(0.137)
-0.036
(0.019)
0.192
-0.038
(0.110) (0.023)
0.083
(0.116)
-0.039
(0.053)
0.244
(0.120)
-0.055
(0.028)
91
0.341
(0.150)
-0.058
(0.021)
0.285
-0.070
(0.129) (0.026)
0.155
(0.126)
-0.084
(0.057)
0.155
(0.127)
-0.049
(0.029)
R2 = 0:182
R2 = 0:181
R2 = 0:169
R2 = 0:193
Note: Standard errors are in parentheses. The dependent variable is value added{based
TFP growth. The sample size is 858 (66 observations for 13 years).
24
WDEOH LLL
Vdpsoh Vwdwlvwlfv rq Phdvxuhv ri
Vnloohg Oderu Vkduh dqg WIS Jurzwk
Vdpsoh Phdq
Fruu1 zlwk ò+49,
Fruu1 zlwk WIS jurzwk
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ò+47,
ò+45,
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WIS jurzwk+(,
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41333
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rq qrq~surgxfwlrq zrunhuv1
Vwdwlvwlfv duh hpsor|phqw~zhljkwhg1
58
WDEOH LY
Uhjuhvvlrq Uhvxowv/ Hperglhg Fdslwdo Lpsuryhphqw
üoqW I Slw @ üoqDúw . òvl>wý4 üoqDvw . òxl>wý4 üoqDxw . ònl>wý4 +Ll>wý4 @Nl>wý4 ,+]wý4 @Dhwý4 ý 4,
\hdu üoqDú
üoqDv
üoqDx
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Dhwý4
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\hdu üoqDú
üoqDv
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Dhwý4
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93
313464
313588
0314336
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031643<
+31836<,
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313:89
0313383 031536;
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031:496
+3165<5,
94
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31368<
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313473
314;9;
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0313739
+3169:9,
95
313768
313665
03138:8
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03196<:
+31636:,
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313646
314549
031478:
+31343:, +313654, +3136:<,
0317686
+31697<,
96
313679
314794
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0415978
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3137:3
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03156;<
+313444, +313696, +3136<8,
04198:8
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Figure I
Average Gross Output Factor Shares, 1959-1991*
0.20
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0.08
60
65
70
75
80
Production Worker Share
Equipment Share
----- Non-Production Worker Share
1-------
*The averages are computed annually across 449 industries
in the MP data set for each factor share.
85
90
Figure II
Contribution of Skilled Labor-Augmenting Technical Progress to TFP
(based on Table I estimates)
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**logA contribution plus logA*
Both series are normalized to zero in 1959
Figure III
Employment-Weighted TFP Growth versus Skill Share (Selected Years)
1977
1978
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