RDP 2023-03: Doing Less, with Less: Capital Misallocation, Investment and the Productivity Slowdown in Australia Read me file

This ‘read me’ file details the replication files for RDP 2023-03. Much of the data cannot be provided as they are confidential unit record data contained in the ABS Business Longitudinal Analysis Data Environment (BLADE). The publicly available plotting data for figures appearing in the RDP can be found in the spreadsheet ‘rdp-2023-03-graph-data’. The ‘Supplementary tables.docx’ file contains additional robustness tables referred to in text. The ‘Codes’ folder contains Stata's do files that are used to produce the results presented in the paper and the appendices. The Stata codes were run on Stata MP 16 (64 bit).

If you make use of any of these files you should clearly attribute the authors in any derivative work.

Data

The files in the ‘Data’ folder are the primary inputs to the ‘Codes’ files:

• Rajan zingales – Demmou et al.xlsx (mapped to ANZSIC. Requires mapping to quartiles)
• ipds.xlsx – example files. Suggest updating with new ABS data for consistent capital, GFCF (investment) deflators etc).

State unemployment data are available from the ABS ‘Labour Force, Australia’ release. All other data are BLADE data and cannot be provided. They are on the 2017/18 vintage of BLADE. Code files will enable replication, though variable names and basic data construction codes will vary due to changes in the data structure.

Code

• 00 Overarching code
• 01. Basic data construction
• 02 Mark-up and MFP estimation
• 03 Data manipulation large
• 04 Data manipulation
• 04a PIM
• 05 Regressions
• 06 Regressions larger sample
• 07 Table and macro effects estimation

Mark-up code is taken from Hambur (forthcoming) and represents ‘base’ code that can be used to estimate with differing parameters. The parameters used here are outlined in the paper and in Hambur (forthcoming) (and are the default in the code).

Reference

Hambur J (forthcoming), ‘Product Market Competition and Its Implications for the Australian Economy’, Economic Record.

22 March 2023

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