Productivity Dispersion: Facts, Theory, and Implications

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We study productivity dispersions across workers, firms and industrial sectors. Empirical study of the Japanese data shows that they all obey the Pareto law, and also that the Pareto index decreases with the level of aggregation. In order to explain these two stylized facts, we propose a theoretical framework built upon the basic principle of statistical physics. In this framework, we employ the concept of superstatistics which accommodates fluctuations of aggregate demand.
29 pages, 12 eps figures, in AER format

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General Finance, Statistical Mechanics, Data Analysis, Statistics and Probability, Physics and Society, Statistical Finance

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http://salesiana.dossiersoluciones.com/handle/123456789/208484

Consulte el texto completo en el siguiente enlace:

https://arxiv.org/abs/0805.2792
 http://arxiv.org/abs/0805.2792

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arXiv