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| Author: | Jensen, J. B. McGuckin, R. H. Stiroh, K. J. |
| Title: | The impact of vintage and survival on productivity: Evidence from cohorts of U.S. manufacturing plants |
| Journal: | Review of Economics and Statistics
2001 : MAY, VOL. 83:2, p. 323-332 |
| Index terms: | PRODUCTIVITY MANUFACTURING INDUSTRY USA |
| Language: | eng |
| Abstract: | This paper examines the evolution of productivity in U.S. manufacturing plants from 1963 to 1992. The authors define a vintage effect as the change in productivity of recent cohorts of new plants relative to earlier cohorts of new plants, and a survival effect as the change in productivity of a particular cohort of surviving plants as it ages. Both factors contribute to industry productivity growth, but play offsetting roles in determining a cohort's relative position in the productivity distribution. The authors answer the following questions about productivity growth. Whether more-recent cohorts enter with higher productivity than earlier cohorts. Whether surviving plants of a particular vintage become more productive as they age. How these two effects trade off at a particular time. |
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