Basu, Susanto; Pascali, Luigi; Schiantarelli, Fabio; … - Institute for the Study of Labor (IZA) - 2012
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 …