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Discovering the Sources of TFP Growth: Occupation Choice, Capital Heterogeneity, and Financial Deepening
Townsend, Robert M.; Jeong, Hyeok - Econometric Society - 2004
The sources of "total factor productivity (TFP) growth" or the "Solow residual" typically remain unknown as a residual. This paper aims to identify the underlying sources of this residual growth, being explicit about micro underpinnings and transitional growth from occupation choices of...
Persistent link: https://www.econbiz.de/10005702604
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Fractional Output Convergence, with an Application to Nine Developed Countries
Beyaert, Arielle - Econometric Society - 2004
We argue that cross-country convergence of output per capita should be examined in a fractional-integration time-series context and we propose a new empirical strategy to test it, which is the first one that discriminates between fractional long-run convergence and fractional catching-up. The...
Persistent link: https://www.econbiz.de/10005702532
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An Alternative Estimation of Spurious Regression Model
Rahman, Shahidur - Econometric Society - 2004
In examining the likely consequences of nonsense relationship, Granger and Newbold (1974) made it clear that the differencing is not the universal sure solution to the problem of spurious regression models. This has prompted the discovery of the cointegration regression estimation by Engle and...
Persistent link: https://www.econbiz.de/10005342144
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Covariance-based orthogonality tests for regressors with unknown persistence
Shimotsu, Katsumi; Maynard, Alex - Econometric Society - 2004
This paper develops a new covariance-based test of orthogonality that may be attractive when regressors have roots close or equal to unity. In this case standard regression-based orthogonality tests can suffer from (i) size distortions and (ii) uncertainty regarding the appropriate model in...
Persistent link: https://www.econbiz.de/10005342319
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Admissible and Nonadmissible Test in Unit-Root-like Situations
Ploberger, Werner - Econometric Society - 2004
In this paper I investigate the asymptotic behavior of tests for problems with locally asymptotically quadratic likelihood. I present necessary and sufficient conditions for a test to be admissible. Even without these restrictive parametric assumptions, I can show that certain common procedures...
Persistent link: https://www.econbiz.de/10005702610
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"The Relationship between Exports and Productivity at the Plant level in the Turkish Apparel and Motor Vehicle Parts Industries
Yasar, Mahmut; Nelson, Carl H. - Econometric Society - 2004
We investigate the relationship between exports and productivity in the Turkish apparel and motor vehicle and parts … long- and short-run relationships between exports and productivity. Thus, a second model, an Error- Correction … relationship between exports and productivity both in the short- and long-run. The effect of productivity on exporting is much …
Persistent link: https://www.econbiz.de/10005702602
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Purchasing Power Parity for Traded and Non-traded Goods: A Structural Error Correction Model Approach
Ogaki, Masao; Kim, Jaebeom - Econometric Society - 2004
When univariate methods are applied to real exchange rates, point estimates of autoregressive coefficients typically imply very slow rates of mean reversion. Rogoff (1996) discusses that the remarkable consensus of 3-5 year half-lives of purchasing power parity (PPP) deviations is found among...
Persistent link: https://www.econbiz.de/10005086417
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Intelligence, Human Capital, and Economic Growth: An Extreme Bounds Analysis
Jones, Garett; Schneider, W. Joel - Econometric Society - 2004
Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests, and conclude that modern intelligence tests are well-suited for measuring an important form of a...
Persistent link: https://www.econbiz.de/10005328888
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Measuring Firms’ R&D Effects on Technical Progress: Japan in the 199
Nakamura, Emi; Nakamura, Masao; Nakajima, Takanobu - Econometric Society - 2004
One of the important public policy issues in science and technology is to ascertain if and how firms' investments in research and development (R&D) contribute to technical progress at firm and industry levels. Griliches (1979) made a pioneering contribution to our understanding of economic...
Persistent link: https://www.econbiz.de/10005702740
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Export Instability, Investment and Economic Growth in Asian Countries: A Time Series Analysis
Sinha, Dipendra - Econometric Society - 2004
In this study, we look at the relationship between export stability, investment and economic growth in nine Asian countries using time series data. The few previous time series studies in this area have not paid any attention to stationarity and cointegration issues. We find that in most cases,...
Persistent link: https://www.econbiz.de/10005130232