TFP Growth in British and German Manufacturing, 1950–1996
用计量方法修正传统全要素生产率估算中的偏差，发现英德两国早期战后调整成本压低生产率增长，后期全球化时期问题消失。
The Paper considers the accuracy of traditional TFP growth estimates using an econometric methodology which takes account of scale economies, fixed factors of production and adjustment costs to reveal underlying ‘pure technological change’. The results suggest that these biases vary substantially over time but do not impact heavily on Anglo-German comparisons. In both countries the early post-war years are a period when adjustment costs from a rising supply price of capital goods hold down TFP growth below that which could have accrued from pure technological progress. As might be expected, this problem largely disappeared in the later globalization period.