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DISCUSSION PAPER

1960-90 : '7lnW":l
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64

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1991

1.J. 1I!)j? H

GOLDA MEIR INSTITUTE

for Social & Labour Research
founded by

The Histadrut General Federation of Labour and Tel Aviv University Faculty of Social Sciences, Naphl_li Building Tel Aviv University 69978, Israel

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LOG(GOP /L): 'l~m

ml'l\!Jrl - O. L. S nl'tl'~'

1961- 89 'Ptl)''' "tJi'tJil

1
-0.91 (-13.6) MITUN

2
-1.37 (-24.7) -0.07 ( -4.4) 0.50 (10.0)

3
-1.35 (-23.8)

5
-1.34 (-24)

-1.37 (-25) -0.07 ( -4.4)

BREAK

0.51
(9.5)

0.50 (7.8) 0.047

(9.8)

0.47

(7.5) 0.045 (9.2) -0.031 ( -8.5) -0.01 ( -4.6)

TIME

0.001
(0.3)

0.05
(9.8)

0.045
(9.2)

TIME*BREAK

-0.03 (-11.6)

-0.033 (-11.2)
-0.01 ( -4.6)

-0.032
(-8.7)

TIME*MITUN

TIME*D80-89

-0.001 ( -1.0)

-0.001 ( -1.0) 0.18 (2.0) 0.997

LOG(K/L)

0.84 (6.5)

0.14 (1.6) 0.997

0.18
(2.0)

0.14 ( 1.5) 0.997

R2

0.97

0.997

3
5.2 (7.4) -3.8 (-2.4)

4
5.2 (7.6)

5
5.3
(7.7)

x
MITUN

2.7 (4.2)

4.8 (6.5)

BREAK

-3.2 (-5.0)

-4.0 (-3.5) -4.0 (-5.0)

-3.4

MITUN+BREAK

(-3.5) -0.94 (-0.9)

080-89
91<-

0.2
( 1.9)

(1. 7)

0.14

0.26 (2.9) 0.55 0.50

0.27 (3.6) 0.55 0.52

0.23 (2.6) 0.57 0.52

R2 ADJUSTED

0.12
R2

0.45 0.41

0.09

t - ':"~ O",llOl

rm::ni'Il
GOP
1961-90 1961-72: whole period exc. 1965-66 1973-89 1973-79 1980-89 1990 All figures: 5.8 9.4 10.8 3.3 3.9 2.8 6.4

'1D' 11'1'Dl
IABOR

nrres

(~)

GOPI

CAPITAL

IABOR 2.2 3.6 4.4 1.2 0.8

1.5

TFP

3.6
5.8

6.1 8.6 8.4 4.6 6.3 3.3 1.4

2.4 4.2
5.1

6.4

2.1

1.0 1.4 0.8 4.4

3.1 1.4 4.1

2.3

annual rates of change.

i1n'l1J~" (TFP)

"''I'!J~
to GOP
41% 47% 30%

"j'Ji1

'W
67% 80% 48%

i11Jl,ni1 (:1)

to GOP /lSJ.}:xjr

1961-90 1961-72 1973-89

20

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i1J:l"

.,,)'VJ) TFP :"'l'l i1)l'lVJO- COCHRANE-ORCUTT- l'l)'O.,l., 1961- 89 'i'O)'i1 ""i'0i1

Z
2.4 (4.0) -0.012 (-2.2)

3
1.64

4
2.9
(4.1)

5
2.73
(3.6)

x
INflATION AUYA

1.4

(1.0) -0.012 (-2.0) 0.049 (1.3)

(1.2) -0.011
(-1.9)

-0.012 (-2.3)

-0.012
(-2.2)

A AlIYA

0.073 (1.9) 0.02

(1.9)

9all!la

AUYA/POP A (AllY A/POP)

1.22
( 1.3)

2.23 (2.0)

R2

0.48

0.49

0.48

0.50

0.50

tl'N~pn

;,"'tI~1tl

in1:J. n n rri 1VJ ill P

~ovm
0'01

;"):J.

"'In0):) o'm.,I!.I'

C)lV
INTERCEPT MITUN BREAK

7.133" -2.9 -2.733

7.022--3.488 -6.257*'

4.4' -4.3 -1.929

8.433" -7.533 -8.374"

1.888 2.277 -2.165

1.811 -4.044 -1.246

1llN~pn

ilnVJ~tl

rmann rrnvpm 13.5"

;oVJn 0'01

ill):J.

"'In00 D'nl"'l'VJl

C))))
INTERCEPT MITUN BREAK

7.377" -2.911 -2.642

14.844" -12.11' -11.750·

10.92"

15.366" -21.90'· -15.73u

9.177" -7.611n -4.754"

-10.833** -5.388· -9.741** -7.163"

nlN"pn

;'''I!.I)lll

ml:J.nn n"'llVJpll

"oVJn

il'):J.

"'InOO O'll'"'I1!.I1

o'm
0.966 -6.3 -0.990

C)),Y
INTERCEPT MITUN BREAK

9.022" -3.155 -3.504

6.811"" -0.311 -4.269"

5.90" -0.566 -2.529

11.277" -9.244 -10.56"

4.077" -1. 744 -2.594

.95% ~\V lr.ltJ nr.lil .99% ~\!) lOti nOil

pilllO pilllr.l

• ••

Year 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990

GOP
10.2 12.6 7.9 9.8 5.3 -0.8 -1.9 20.9 14.0 10.4 12.0 12.0 3.9 4.0 2.1 3.2 2.5 6.5 S.3 -0.8 4.7 2.3 4.1 1.3 2.9 4.1 7.0 0.6 1.9 6.4

GOP/lab 4.2 6.5 4.4 4.7 3.1 1.9 7.9 5.3 9.6 9.5 7.6 4.3 7.3 4.1 1.7 3.1 2.0 3.8 -0.1 0.6 2.4 2.0 0.7 -0.8 2.8 1.9 3.2 0.3 0.5 4.1

Capital
10.1 11.9 9.5 8.8 10.4 8.7 5.6 3.8 7.1 8.2 8.1 10.4 8.0 8.9 7.2 6.3 5.1 4.2 4.5 5.3 3.0 2.9 3.4 4.9 3.3 2.6 2.4 3.1 2.5 1.4

Labor' 6.0 6.1 3.5 5.1 2.2 -2.7 -9.8 15.6 4.4 0.9 4.4 7.7 -3.4 -0.1 0.4 0.1 0.5 2.7 5.4 -1.4 2.3 0.3 3.4 2.1 0.1 2.2 3.8 0.3 1.4 2.3

TFP 2.9 4.6 2.5 3.5 0.4 -1.7 3.0 9.1 8.7 7.1 6.4 3.4 3.7 -0.4 1.2 0.5 3.3 0.2 -1.5 2.2 1.2 0.7 -1.7 1.7 1.8 3.6 -0.6 0.2 4.4

1.2

All figures: annual rates of chanqe, TFP: Total Factor Pro:luctivity (share of labor: 0.68)

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