Allocative inefficiency and sectoral allocation of labor: Evidence from U.S. agriculture |
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| Affiliation: | 1. Université Laval, Département d''obstétrique, gynécologie et reproduction, Québec QC;2. Centre de recherche du CHU de Québec, Québec QC;3. Université Laval, Département de médecine familiale et médecine d''urgence, Québec QC;4. Université de Sherbrooke, Département de chirurgie/urologie, Sherbrooke QC;1. Shih Hsin University, Taipei, Taiwan;2. National Chengchi University, Taipei, Taiwan;3. Soochow University, Taipei, Taiwan;1. College of Management and Economics, Tianjin University, Tianjin 300072, China;2. China Center for Social Computing and Analytics, Tianjin University, Tianjin 300072, China;3. CNRS, Centre d''Economie de la Sorbonne, Université Paris 1 Panthéon-Sorbonne, 106-112 Boulevard de l''Hôpital, Paris, France;1. Applied Economics & Management Research Group, University of Seville, Spain;2. Escuela Técnica Superior de Ingenieros Industriales, Universidad Castilla-La Mancha, Spain |
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| Abstract: | Are productivity differences across producers in an industry a good indicator of allocative inefficiency? If so, what are the welfare consequences of reallocating labor from lesser to more productive producers? This paper addresses these questions in the context of factor specificity, which generates endogenous distribution of total factor productivity across producers, and reallocation of labor across sectors, as well as within a sector. The paper builds a multi-sector, multi-region general equilibrium model with land as a region-specific factor, and calibrates it using state-level U.S. data from 1960 to 2004, a period with considerable reallocation of labor out of agriculture. The results show that large and persistent differences in agricultural productivity across U.S. states are consistent with factor specificity due to geoclimatic conditions and do not correspond to economically significant allocative inefficiencies. |
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