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This paper measures factor productivities (and hence total factor productivity growth) directly on the basis of the …
Persistent link: https://www.econbiz.de/10005101009
The paper addresses the effect of technological progress on the frontiers of the firm, building on transaction cost theory and agency theory. The model incorporates four types of costs: production, coordination, management, and transaction costs. The market has lower production costs, but higher...
Persistent link: https://www.econbiz.de/10005838747
The standard measure of productivity growth is the Solow residual. Its evaluation requires data on factor input shares … face value what is supposed to be measured. In this paper we determine total factor productivity growth without recourse to … level of domestic final demand. The consequent measure of total factor productivity is shown to encompass not only the Solow …
Persistent link: https://www.econbiz.de/10005101031