manufacturing sector has little or no significant effect on the productivity of other sectors. Using value-added data, however, we … confirm the results of previous studies which find that output spillovers instead appear large. We provide an explanation for …

manufacturing sector has little or no significant effect on the productivity of other sectors. Using value-added data, however, we … confirm the results of previous studies which find that output spillovers instead appear large. We provide an explanation for …

, the change in welfare is summarized by (the present value of) the Solow productivity residual and by the growth rate of … the capital stock per capita. We also show that productivity and the capital stock suffice to calculate differences in …

, the change in welfare is summarized by (the present value of) the Solow productivity residual and by the growth rate of … the capital stock per capita. We also show that productivity and the capital stock suffice to calculate differences in …

. To a first order, welfare is summarized by total factor productivity and by the capital stock per capita. These variables … total factor productivity is constructed using domestic absorption, instead of gross domestic product, as the measure of … output. It also requires that total factor productivity be constructed with prices and quantities as perceived by consumers …

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