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values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …
Persistent link: https://www.econbiz.de/10010269431
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 …
Persistent link: https://www.econbiz.de/10010286892
. 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 …
Persistent link: https://www.econbiz.de/10010575544
values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …
Persistent link: https://www.econbiz.de/10008514853
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 …
Persistent link: https://www.econbiz.de/10010541274
, 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 …
Persistent link: https://www.econbiz.de/10010547127
, 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 …
Persistent link: https://www.econbiz.de/10010552494
values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …
Persistent link: https://www.econbiz.de/10008465509
Productivity rises in booms and falls in recessions. There are four main explanations for this procyclical productivity … procyclical productivity as an essential feature of business cycles because each explanation has important implications for … utilization and resource reallocations are particularly important in explaining procyclical productivity. We also argue that the …
Persistent link: https://www.econbiz.de/10014141533
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 …
Persistent link: https://www.econbiz.de/10013107706