values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …

total factor productivity and by the capital stock per capita. These variables suffice to calculate welfare changes within a … the degree of market competition. It applies to open economies as well, if total factor productivity is constructed using … productivity be constructed with prices and quantities as perceived by consumers, not firms. Thus, factor shares need to be …

values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility … while taking prices parametrically. This result justifies total factor productivity (TFP) as the right summary measure of …

values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …. -- Productivity ; welfare ; reallocation ; technology ; TFP …