US Census Bureau
Center for Economic Studies
4600 Silver Hill Road
Washington, DC 20233
Information about this author at RePEc
NBER Working Papers and Publications
|August 2017||Macro and Micro Dynamics of Productivity: From Devilish Details to Insights|
with Lucia S. Foster, John Haltiwanger, Zoltan Wolf: w23666
Researchers use a variety of methods to estimate total factor productivity (TFP) at the firm level and, while these may seem broadly equivalent, how the resulting measures relate to the TFP concept in theoretical models depends on the assumptions about the environment in which firms operate. Interpreting these measures and drawing insights based upon their characteristics thus must take into account these conceptual differences. Absent data on prices and quantities, most methods yield ``revenue productivity" measures. We focus on two broad classes of revenue productivity measures in our examination of the relationship between measured and conceptual TFP (TFPQ). The first measure has been increasingly used as a measure of idiosyncratic distortions and to assess the degree of misallocation...
|August 2014||Reallocation in the Great Recession: Cleansing or Not?|
with Lucia Foster, John Haltiwanger: w20427
The high pace of reallocation across producers is pervasive in the U.S. economy. Evidence shows this high pace of reallocation is closely linked to productivity. While these patterns hold on average, the extent to which the reallocation dynamics in recessions are "cleansing" is an open question. We find downturns prior to the Great Recession are periods of accelerated reallocation even more productivity enhancing than reallocation in normal times. In the Great Recession, we find the intensity of reallocation fell rather than rose and the reallocation that did occur was less productivity enhancing than in prior recessions.
Published: Reallocation in the Great Recession: Cleansing or Not?, Lucia Foster, Cheryl Grim, John Haltiwanger. in Labor Markets in the Aftermath of the Great Recession, Card and Mas. 2016
|May 2013||Reallocation in the Great Recession: Cleansing or Not?|
with Lucia Foster, John Haltiwanger
in Labor Markets in the Aftermath of the Great Recession, David Card and Alexandre Mas, organizers
|February 2008||Electricity Pricing to U.S. Manufacturing Plants, 1963-2000|
with Steven J. Davis, John Haltiwanger, Mary Streitwieser: w13778
We develop a large customer-level database to study electricity pricing to U.S. manufacturing plants from 1963 to 2000. We document tremendous dispersion in price per kWh, trace that dispersion to quantity discounts and spatial differentials, estimate the role of cost factors in quantity discounts, and test whether marginal price schedules conform to marginal cost and Ramsey pricing conditions. Our cost analysis and pricing tests rely on a novel empirical approach that exploits utility-level differences in the customer size distribution to estimate how supply costs vary with purchase quantity.
The results reveal that annual supply costs per kWh fall by more than half in moving from smaller to bigger purchasers, providing a clear cost-based rationale for quantity discounts. Befor...