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Volumn 125, Issue 3, 2002, Pages 16-31

Productivity growth in 'high-tech' manufacturing industries

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EID: 0742278829     PISSN: 00981818     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article
Times cited : (23)

References (41)
  • 1
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    • Employment shifts in hightechnology industries
    • June
    • William Luker, Jr. and Donald Lyons, "Employment shifts in hightechnology industries," Monthly Labor Review, June 1997, pp. 12-25.
    • (1997) Monthly Labor Review , pp. 12-25
    • Luker Jr., W.1    Lyons, D.2
  • 2
    • 11244268681 scopus 로고    scopus 로고
    • note
    • This growth rate refers to high-tech manufacturing industries classified on the basis of employment of certain types of workers. The criteria for identifying high-tech industries will be discussed in detail later in this article.
  • 3
    • 11244281334 scopus 로고    scopus 로고
    • note
    • Labor productivity measures should not be interpreted as representing the contribution of labor to production. Changes over time in labor productivity reflect a number of factors, including substitution of other inputs, such as capital and intermediate purchases, for labor in the production process; changes in the organization of production; changes in the allocation of resources between sectors; the direct and indirect effects of research and development; and the development of new technology.
  • 4
    • 11244270733 scopus 로고    scopus 로고
    • note
    • Several factors may affect the multifactor productivity residual, such as technical innovation, economies of scale, labor composition changes (which are not accounted for in the measures analyzed here), organizational and institutional change, fluctuations in demand, omitted variables, and measurement errors.
  • 5
    • 0004097088 scopus 로고    scopus 로고
    • Executive Office of the President, Office of Management and Budget, Standard Industrial Classification Manual 1987. Data from the 1997 Economic Census of Manufactures were published primarily on the basis of the new North American Industry Classification System (NAICS); earlier censuses were published according to the Standard Indus-trial Classification (sic) system. Implementation of NAICS by Federal agencies will be in phases. In order to update the three-digit industry productivity series used in this article, BLS converted the NAICS-based manufacturing data to an sic basis. BLS will continue to publish the productivity series on an sic basis until all the data underlying the productivity series have been converted to a NAICS basis.
    • Standard Industrial Classification Manual 1987
  • 6
    • 11244260832 scopus 로고    scopus 로고
    • Report 956 Bureau of Labor Statistics, January
    • Multifactor productivity and related measures for the 108 industries for which the data meet BLS publication standards were published in Multifactor Productivity Measures for Three-digit SIC Manufacturing Industries, Report 956 (Bureau of Labor Statistics, January 2002). This article makes use of the data for all 140 three-digit manufacturing industries, including the 32 industries for which data have not been published.
    • (2002) Multifactor Productivity Measures for Three-digit SIC Manufacturing Industries
  • 7
    • 11244322165 scopus 로고    scopus 로고
    • note
    • Data limitations prevented the development of productivity series for many industries prior to 1987. Data requirements for calculating multifactor productivity are even greater, further constraining the industrial detail for which these series are available.
  • 8
    • 0001249287 scopus 로고
    • The impact of computer prices on international comparisons of labour productivity
    • Overseas Publishers Association
    • For a discussion of these issues, see, for example, Andrew W. Wyckoff, "The impact of computer prices on international comparisons of labour productivity," Economics of Innovation and New Technology, Overseas Publishers Association, 1995, vol. 3, pp. 277-93; Jack Triplett, "High-tech industry productivity and hedonic price indices," chapter 4 in Industry Productivity: International Comparison and Measurement Issues (Organization for Economic Co-operation and Development (OECD), Paris, October 1996), pp. 119-42. On the Internet at http://www.oecd.org/dsti/sti/stat-ana/prod/; Bruce T. Grimm, "Price Indexes for Selected Semiconductors, 1974-96," Survey of Current Business (Bureau of Economic Analysis, February 1998), pp. 8-24; Ernst R. Berndt, Zvi Griliches, and Joshua G. Rosett, "Auditing the Producer Price Index: Micro Evidence from Prescription Pharmaceutical Preparations," Journal of Business and Economic Statistics, July 1993; and William Gullickson and Michael J. Harper, "Possible measurement bias in aggregate productivity growth," Monthly Labor Review, February 1999, pp. 47-67.
    • (1995) Economics of Innovation and New Technology , vol.3 , pp. 277-293
    • Wyckoff, A.W.1
  • 9
    • 0005382906 scopus 로고    scopus 로고
    • High-tech industry productivity and hedonic price indices
    • chapter 4 Organization for Economic Co-operation and Development (OECD), Paris, October
    • For a discussion of these issues, see, for example, Andrew W. Wyckoff, "The impact of computer prices on international comparisons of labour productivity," Economics of Innovation and New Technology, Overseas Publishers Association, 1995, vol. 3, pp. 277-93; Jack Triplett, "High-tech industry productivity and hedonic price indices," chapter 4 in Industry Productivity: International Comparison and Measurement Issues (Organization for Economic Co-operation and Development (OECD), Paris, October 1996), pp. 119-42. On the Internet at http://www.oecd.org/dsti/sti/stat-ana/prod/; Bruce T. Grimm, "Price Indexes for Selected Semiconductors, 1974-96," Survey of Current Business (Bureau of Economic Analysis, February 1998), pp. 8-24; Ernst R. Berndt, Zvi Griliches, and Joshua G. Rosett, "Auditing the Producer Price Index: Micro Evidence from Prescription Pharmaceutical Preparations," Journal of Business and Economic Statistics, July 1993; and William Gullickson and Michael J. Harper, "Possible measurement bias in aggregate productivity growth," Monthly Labor Review, February 1999, pp. 47-67.
    • (1996) Industry Productivity: International Comparison and Measurement Issues , pp. 119-142
    • Triplett, J.1
  • 10
    • 0008400980 scopus 로고    scopus 로고
    • Price Indexes for Selected Semiconductors, 1974-96
    • Bureau of Economic Analysis, February
    • For a discussion of these issues, see, for example, Andrew W. Wyckoff, "The impact of computer prices on international comparisons of labour productivity," Economics of Innovation and New Technology, Overseas Publishers Association, 1995, vol. 3, pp. 277-93; Jack Triplett, "High-tech industry productivity and hedonic price indices," chapter 4 in Industry Productivity: International Comparison and Measurement Issues (Organization for Economic Co-operation and Development (OECD), Paris, October 1996), pp. 119-42. On the Internet at http://www.oecd.org/dsti/sti/stat-ana/prod/; Bruce T. Grimm, "Price Indexes for Selected Semiconductors, 1974-96," Survey of Current Business (Bureau of Economic Analysis, February 1998), pp. 8-24; Ernst R. Berndt, Zvi Griliches, and Joshua G. Rosett, "Auditing the Producer Price Index: Micro Evidence from Prescription Pharmaceutical Preparations," Journal of Business and Economic Statistics, July 1993; and William Gullickson and Michael J. Harper, "Possible measurement bias in aggregate productivity growth," Monthly Labor Review, February 1999, pp. 47-67.
    • (1998) Survey of Current Business , pp. 8-24
    • Grimm, B.T.1
  • 11
    • 21144470772 scopus 로고
    • Auditing the Producer Price Index: Micro Evidence from Prescription Pharmaceutical Preparations
    • July
    • For a discussion of these issues, see, for example, Andrew W. Wyckoff, "The impact of computer prices on international comparisons of labour productivity," Economics of Innovation and New Technology, Overseas Publishers Association, 1995, vol. 3, pp. 277-93; Jack Triplett, "High-tech industry productivity and hedonic price indices," chapter 4 in Industry Productivity: International Comparison and Measurement Issues (Organization for Economic Co-operation and Development (OECD), Paris, October 1996), pp. 119-42. On the Internet at http://www.oecd.org/dsti/sti/stat-ana/prod/; Bruce T. Grimm, "Price Indexes for Selected Semiconductors, 1974-96," Survey of Current Business (Bureau of Economic Analysis, February 1998), pp. 8-24; Ernst R. Berndt, Zvi Griliches, and Joshua G. Rosett, "Auditing the Producer Price Index: Micro Evidence from Prescription Pharmaceutical Preparations," Journal of Business and Economic Statistics, July 1993; and William Gullickson and Michael J. Harper, "Possible measurement bias in aggregate productivity growth," Monthly Labor Review, February 1999, pp. 47-67.
    • (1993) Journal of Business and Economic Statistics
    • Berndt, E.R.1    Griliches, Z.2    Rosett, J.G.3
  • 12
    • 0002312733 scopus 로고    scopus 로고
    • Possible measurement bias in aggregate productivity growth
    • February
    • For a discussion of these issues, see, for example, Andrew W. Wyckoff, "The impact of computer prices on international comparisons of labour productivity," Economics of Innovation and New Technology, Overseas Publishers Association, 1995, vol. 3, pp. 277-93; Jack Triplett, "High-tech industry productivity and hedonic price indices," chapter 4 in Industry Productivity: International Comparison and Measurement Issues (Organization for Economic Co-operation and Development (OECD), Paris, October 1996), pp. 119-42. On the Internet at http://www.oecd.org/dsti/sti/stat-ana/prod/; Bruce T. Grimm, "Price Indexes for Selected Semiconductors, 1974-96," Survey of Current Business (Bureau of Economic Analysis, February 1998), pp. 8-24; Ernst R. Berndt, Zvi Griliches, and Joshua G. Rosett, "Auditing the Producer Price Index: Micro Evidence from Prescription Pharmaceutical Preparations," Journal of Business and Economic Statistics, July 1993; and William Gullickson and Michael J. Harper, "Possible measurement bias in aggregate productivity growth," Monthly Labor Review, February 1999, pp. 47-67.
    • (1999) Monthly Labor Review , pp. 47-67
    • Gullickson, W.1    Harper, M.J.2
  • 13
    • 0002327169 scopus 로고
    • High technology today and tomorrow: A small slice of the employment pie
    • November
    • Richard W. Riche, Daniel E. Hecker, and John U. Burgan, "High technology today and tomorrow: a small slice of the employment pie," Monthly Labor Review, November 1983, pp. 50-58. (See page 51 and footnote 1.)
    • (1983) Monthly Labor Review , pp. 50-58
    • Riche, R.W.1    Hecker, D.E.2    Burgan, J.U.3
  • 15
    • 0001939123 scopus 로고    scopus 로고
    • Revision of the High-Technology Sector and Product Classification
    • Organization for Economic Co-operation and Development
    • Thomas Hatzichronoglou, "Revision of the High-Technology Sector and Product Classification," STI Working Papers (Organization for Economic Co-operation and Development, 1997, pp. 1-25).
    • (1997) STI Working Papers , pp. 1-25
    • Hatzichronoglou, T.1
  • 16
    • 0002420769 scopus 로고    scopus 로고
    • High-technology employment: A broader view
    • June
    • Daniel Hecker, "High-technology employment: a broader view," Monthly Labor Review, June 1999, pp. 18-28; quote, p. 19.
    • (1999) Monthly Labor Review , pp. 18-28
    • Hecker, D.1
  • 17
    • 11244277361 scopus 로고    scopus 로고
    • note
    • In 1999, employment in sic 357, computer and office equipment, accounted for 14.2 percent of total employment in sic 35, industrial and commercial machinery and equipment and computer equipment; sic 366, communications equipment, and sic 367, electronic components and accessories, accounted for 8.6 percent and 20.6 percent, respectively, of total employment in sic 36, electronic and other electrical equipment and components.
  • 18
    • 11244279044 scopus 로고    scopus 로고
    • USDL 01-452 (U.S. Department of Labor), December 6
    • Calculations based on the data underlying Productivity and Costs, Third Quarter 2001, USDL 01-452 (U.S. Department of Labor), December 6, 2001.
    • (2001) Productivity and Costs, Third Quarter 2001
  • 19
    • 0042201562 scopus 로고    scopus 로고
    • Riche, Hecker, and Burgan, "High technology today and tomorrow"; Paul Hadlock, Daniel Hecker, and Joseph Gannon, "High technology employment: another view," Monthly Labor Review, July 1991, pp. 26-30; Luker and Lyons, "Employment shifts in high-technology"; Hecker, "High-technology employment."
    • High Technology Today and Tomorrow
    • Riche1    Hecker2    Burgan3
  • 20
    • 0002221146 scopus 로고    scopus 로고
    • High technology employment: Another view
    • July
    • Riche, Hecker, and Burgan, "High technology today and tomorrow"; Paul Hadlock, Daniel Hecker, and Joseph Gannon, "High technology employment: another view," Monthly Labor Review, July 1991, pp. 26-30; Luker and Lyons, "Employment shifts in high-technology"; Hecker, "High-technology employment."
    • (1991) Monthly Labor Review , pp. 26-30
    • Hadlock, P.1    Hecker, D.2    Gannon, J.3
  • 21
    • 11244263214 scopus 로고    scopus 로고
    • Riche, Hecker, and Burgan, "High technology today and tomorrow"; Paul Hadlock, Daniel Hecker, and Joseph Gannon, "High technology employment: another view," Monthly Labor Review, July 1991, pp. 26-30; Luker and Lyons, "Employment shifts in high-technology"; Hecker, "High-technology employment."
    • Employment Shifts in High-technology
    • Luker1    Lyons2
  • 22
    • 0002221146 scopus 로고    scopus 로고
    • Riche, Hecker, and Burgan, "High technology today and tomorrow"; Paul Hadlock, Daniel Hecker, and Joseph Gannon, "High technology employment: another view," Monthly Labor Review, July 1991, pp. 26-30; Luker and Lyons, "Employment shifts in high-technology"; Hecker, "High-technology employment."
    • High-technology Employment
    • Hecker1
  • 23
    • 0003588443 scopus 로고    scopus 로고
    • Arlington, VA, National Science Foundation
    • National Science Board, Science and Engineering Indicators-1998 (Arlington, VA, National Science Foundation, 1998).
    • (1998) Science and Engineering Indicators-1998
  • 25
    • 11244329789 scopus 로고    scopus 로고
    • note
    • The earlier study listed only eight separate manufacturing industries because several three-digit manufacturing industries were grouped together: industrial inorganic chemicals and industrial organic chemicals (sics 281 and 286) were combined to form industrial chemicals; and aircraft and parts and guided missiles, space vehicles, and parts (SICs 372 and 376) were combined to form aerospace. When considered on its own (that is, when not combined with industrial organic chemicals), industrial inorganic chemicals meets one but not both criteria for inclusion in the set of hightech intensive industries - the proportion of technology-oriented workers falls slightly below the cut-off proportion. For purposes of consistency with the earlier study, however, this industry is nevertheless included in the high-tech manufacturing sector as defined in this article.
  • 26
    • 0003959257 scopus 로고    scopus 로고
    • Bulletin 2490, April
    • See chapters 10 and 11 of Bureau, of Labor Statistics, BLS Handbook of Methods, Bulletin 2490, April 1997 (on the Internet at: http://stats.bls.gov/opub/hom/homhome.htm). One significant difference between the two data sets that affects the comparisons of trends in capital services in high-tech manufacturing and total manufacturing is noted later in this article. (See footnote 29.)
    • (1997) BLS Handbook of Methods
  • 27
    • 11244316682 scopus 로고    scopus 로고
    • note
    • More precisely, logarithmic growth rates are additive. The average annual compound growth rates used in this analysis are approximately equal to the logarithmic growth rates, thus conceptually additive, when the growth rates are "small."
  • 28
    • 0002447276 scopus 로고
    • Measurement of productivity growth in U.S. manufacturing
    • July
    • For a discussion of this issue, see William Gullickson, "Measurement of productivity growth in U.S. manufacturing," Monthly Labor Review, July 1995, pp. 13-28.
    • (1995) Monthly Labor Review , pp. 13-28
    • Gullickson, W.1
  • 29
    • 11244299955 scopus 로고    scopus 로고
    • note
    • The issue of the potential effect of not removing intrasectoral transactions from the high-tech aggregate estimates is discussed briefly in the section on multifactor productivity.
  • 30
    • 11244293951 scopus 로고    scopus 로고
    • note
    • Although the composition of labor input may be influenced by changes in factors such as training, experience, and education, the data used in this article treat labor input as a homogeneous factor. Thus, employee hours are weighted equally; no distinction is made between workers in different industries or with different skill levels or wages. The effects of changes in labor composition are included in the productivity residual.
  • 31
    • 11244299951 scopus 로고    scopus 로고
    • note
    • In "High-technology employment," Hecker reported an increase of 3 percent in employment in high-tech intensive industries between 1986 and 1996. However, Hecker's high-tech intensive subset includes two service-producing industries, computer and data processing services (sic 737) and research, development, and testing services (sic 873). If these two industries, which recorded employment gains over the period, are excluded, the earlier BLS study's data also show employment in high-tech intensive manufacturing industries to be falling.
  • 32
    • 84887566071 scopus 로고    scopus 로고
    • chapters 10 and 11
    • The small incompatibilities in the two data sets used make direct comparisons of levels of high-tech and total manufacturing hours problematic. Hours series for the industry data used to develop the high-tech sector measures are on an hours-paid basis and cover only employees, or wage and salary workers. Hours for the manufacturing sector as a whole are adjusted to an hours-worked basis and include hours worked by proprietors and unpaid family workers in addition to those worked by wage and salary workers. See BLS Handbook of Methods, chapters 10 and 11, for an overall description of the measures. While these differences may affect comparisons of the levels of hours worked, they are not likely to significantly affect comparisons of trends or growth rates over the period studied given that proprietors' and unpaid family workers' share of employment is small in manufacturing and there was little trend in the ratio of hours worked to hours paid for this period.
    • BLS Handbook of Methods
  • 33
    • 0000142140 scopus 로고
    • On the measurement of technological change
    • See Evsey D. Domar, "On the measurement of technological change," Economic Journal, 1961, pp. 709-29. Using this method, sector multifactor productivity growth is the weighted sum of the component industry multifactor productivity growth rates, where the weights are the ratios of each industry's value of production to the sector's value of production (the sum of the industries' value of production is greater than the sector net value of production, thus the industry weights sum to more than 1).
    • (1961) Economic Journal , pp. 709-729
    • Domar, E.D.1
  • 34
    • 11244270726 scopus 로고    scopus 로고
    • note
    • A Domar aggregation of component industry growth rates yielded a high-tech multifactor productivity growth rate of 5.8 percent per year over the period 1987 to 1998. Over the same period, multifactor productivity growth in the high-tech aggregate constructed for this article (unadjusted for intrasectoral transactions) averaged 5.1 percent per year. The difference between the adjusted (Domarweighted) and unadjusted multifactor growth rates, or 0.7 percent per year, represents an estimate of the bias arising from failing to adjust the high-tech manufacturing aggregate for intrasectoral transactions.
  • 35
    • 11244325179 scopus 로고    scopus 로고
    • note
    • The multifactor productivity growth rate for the "non-high-tech sector" is a Domar-weighted aggregate of the multifactor productivity growth rates of the 130 non-high-tech manufacturing industries. The multifactor productivity growth rates of the high-tech and non-high-tech sectors are not additive.
  • 36
    • 11244249900 scopus 로고    scopus 로고
    • note
    • In addition to equipment, structures, inventories, and land, the BLS capital measures for the aggregate manufacturing sector treat computer software as a capital asset and thus include capital services from software. Data limitations prevent the inclusion of software in capital services for the three-digit industry capital measures used for the high-tech manufacturing industries. This difference could significantly affect the comparison of trends in high-tech manufacturing and aggregate manufacturing capital input in this article. Since software has been growing more rapidly than most other asset types over the period studied, the likely effect of omitting software from the industry capital measures would be to bias the high-tech capital measures downward relative to overall manufacturing.
  • 37
    • 11244258680 scopus 로고    scopus 로고
    • See footnote 20
    • See footnote 20.
  • 38
    • 0346046037 scopus 로고    scopus 로고
    • See, for example, Berndt, Griliches, Rosett, "Auditing the Producer Price Index." The pharmaceutical industry discussed in that article is characterized by rapid innovation and an institutional environment in which prices of newly introduced products tend to increase more slowly than prices of established products, or even to decline. The authors found that the BLS producer price index (PPI) for prescription pharmaceutical preparations was growing much more rapidly than several indexes of pharmaceutical prices they had constructed. This occurred, in part, because of an underrepresentation of new products in the PPI sample.
    • Auditing the Producer Price Index
    • Berndt1    Griliches2    Rosett3
  • 39
    • 11244277359 scopus 로고    scopus 로고
    • note
    • Beginning in January 1996, the PPI program began using supplemental samples in order to improve the representation of new products in the pharmaceutical industry.
  • 40
    • 11244273250 scopus 로고    scopus 로고
    • note
    • If price increases over the period studied are overstated (or price declines understated), real output and productivity growth will be understated.
  • 41
    • 0042702857 scopus 로고    scopus 로고
    • Defense-related employment and spending, 1996-2006
    • July
    • For a discussion, see Allison Thomson, "Defense-related employment and spending, 1996-2006," Monthly Labor Review, July 1998, pp. 14-33. In 1987, with defense spending at a postVietnam War high, over half of employment in the search and navigation equipment and aerospace industries - aircraft and parts and guided missiles, space vehicles, and parts - was defense-related. By 1996, the proportion of defense-related employment in each of these industries had fallen sharply but remained substantial. (See tables 3 and 4.)
    • (1998) Monthly Labor Review , pp. 14-33
    • Thomson, A.1


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