Showing 1 - 3 of 3
Persistent link: https://www.econbiz.de/10003901823
A considerable literature has focused on the determinants of total factor productivity (TFP), prompted by the empirical … representative consumer is summarized by current and anticipated future Solow productivity residuals. The equivalence holds for any … parametrically. This result justifies total factor productivity as the right summary measure of welfare, even in situations where it …
Persistent link: https://www.econbiz.de/10012551445
: current and future total factor productivity and the capital stock per capita. These variables suffice to calculate welfare … production technology and the degree of market competition. It applies to open economies as well, if total factor productivity is … factor productivity be constructed with prices and quantities as perceived by consumers, not firms. Thus, factor shares need …
Persistent link: https://www.econbiz.de/10012552130