We examine the evolution of productivity and markups in US food and beverage manufacturing from 1959 through 2018. We account for non‐Hicks‐neutral (labour‐augmenting) productivity changes and compare markups with those in general manufacturing using the same dataset and model. We also compare our results with those of the increasingly popular De Loecker and Warzynski (2012, American Economic Review, 102, 2437) method, which does not account for non‐Hicks‐neutral productivity growth. Empirical results show that productivity growth in the food and beverage sector has been relatively slow and driven with equal intensity by Hicks‐neutral and labour‐augmenting productivity gains. General manufacturing shows higher productivity growth that is mostly labour‐augmenting, with markups comparable to those of food manufacturing. We find that accounting for labour‐augmenting productivity produces more moderate markup estimates than the De Loecker and Warzynski (2012) method. We also find no evidence of markups rising in either food manufacturing or general manufacturing in the last 20 years, in contrast to much of the recent economic literature.

中文翻译：

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美国食品制造业的加价导致非中性生产率

我们研究了 1959 年至 2018 年美国食品和饮料制造业生产率和加价的演变。我们考虑了非希克斯中性（劳动力增强）生产率变化，并使用相同的数据集和模型将加价与一般制造业的加价进行了比较。我们还将我们的结果与日益流行的 De Loecker 和 Warzynski (2012, American Economic Review, 102, 2437) 方法的结果进行了比较，该方法没有考虑非希克斯中性生产率增长。实证结果表明，食品和饮料行业的生产率增长相对缓慢，并且由希克斯中性生产率增长和劳动力增强型生产率增长同等强度地推动。一般制造业显示出较高的生产率增长，这主要是劳动力的增加，其加成率与食品制造业相当。我们发现，与 De Loecker 和 Warzynski（2012）的方法相比，考虑到劳动力增强生产率所产生的加成估计更为适中。我们还没有发现任何证据表明过去 20 年食品制造业或一般制造业的加价有所上升，这与最近的许多经济文献相反。