Table 2 Labor-augmenting technical...

Table 2

Labor-augmenting technical change from production function estimates at the firm level

	Microfirms <10 employees	Small-market-share firms	High-market-share firms
R&D
Compensation ratio ${\bar{w}}_{R & D i t} / {\bar{w}}_{L i t}$	1.15	1.06	1.24
R&D-IBTC (eq. 11)	1.59	1.17	1.86
P25-P75 range	1.15–1.96	0.74–1.79	0.89–3.5
R&D-IBTC (eq. 10)	2.38	2.23	2.78
Long-term multiplier	2.06	1.90	2.14
OC
Compensation ratio ${\bar{w}}_{O C i t} / {\bar{w}}_{L i t}$	1.09	1.11	1.27
OC-IBTC	2.53	2.43	3.19
P25-P75 range	1.03–3.22	0.61–3.94	1.02–5.39
OC-IBTC (eq.10)	2.09	2.2	3.63
Long-term multiplier (eq.11)	2.11	1.88	2.19

	Microfirms <10 employees	Small-market-share firms	High-market-share firms
R&D
Compensation ratio ${\bar{w}}_{R & D i t} / {\bar{w}}_{L i t}$	1.15	1.06	1.24
R&D-IBTC (eq. 11)	1.59	1.17	1.86
P25-P75 range	1.15–1.96	0.74–1.79	0.89–3.5
R&D-IBTC (eq. 10)	2.38	2.23	2.78
Long-term multiplier	2.06	1.90	2.14
OC
Compensation ratio ${\bar{w}}_{O C i t} / {\bar{w}}_{L i t}$	1.09	1.11	1.27
OC-IBTC	2.53	2.43	3.19
P25-P75 range	1.03–3.22	0.61–3.94	1.02–5.39
OC-IBTC (eq.10)	2.09	2.2	3.63
Long-term multiplier (eq.11)	2.11	1.88	2.19

Note(s): The table shows the median technical change. The P25-P75 range shows technical range at the percentiles of 25 and 75% of the overall distribution, calculated at the median employment coefficients. The long-term multiplier for the reported short-term effects is 1/(1-aY) from (11), where αY is the coefficient of the lagged value added

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