Total Factor Productivity Change in the New England Groundfish Fishery: 1964–1993

We develop estimates of total factor productivity (TFP) change in the New England groundfish fishery from 1964 to 1993, using a procedure similar to Squiresʹ (1992, Rand J. Econom.23(2), 221–236) method, which extends standard TFP measurement by including the effect of fluctuations in stock abundance. The results indicate that TFP increased on average by 4.4% per year from 1964 to 1993. A higher average rate of increase occurred between 1964 and 1982, possibly due to new technologies (e.g., fishfinders). TFP declined at 0.33% annually from 1983 to 1993 due to stringent output and effort control measures