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Title:Estimated US manufacturing production capital and technology based on an estimated dynamic economic model PDF Logo
Authors:Chen, Baoline
Zadrozny, Peter A.
Issue Date:2005
Series/Report no.:CESifo working papers 1526
Abstract:Production capital and technology, fundamental to understanding output and productivity growth, are unobserved except at disaggregated levels and must be estimated prior to being used in empirical analysis. We develop and apply a new estimation method, based on advances in economics, statistics, and applied mathematics, which involves estimating a structural dynamic economic model of a representative production firm and using the estimated model to compute Kalman-filtered estimates of capital and technology for the sample period. We apply the method to annual data from 1947-97 for U.S. total manufacturing and compare the estimates with those reported by the Bureau of Labor Statistics.
Subjects:Kalman filter estimation of unobserved state variables
JEL:C50
L60
D24
C81
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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