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The results of this paper challenge the conventional wisdom in the literature that productivity plays no role in the … economic development of Singapore. Properly accounting for market power and returns to scale technology, the estimated average … productivity growth is twice as large as the conventional total factor productivity (TFP) measures. Using a standard growth …
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Theoretical models of endogenous growth identify capital accumulation and returns as a potential stimulus to economic growth. Existing empirical studies, however, are based on a limited notion of these returns, which follows from the simple production function framework used for estimation. The...
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This paper investigates the extent to which productivity growth is the result of firm turnover as output is shifted … continuing firms. This paper proposes a method for measuring the impact of firm turnover on productivity growth and shows that … associated with competition is the main source of aggregate labour productivity growth in Canadian manufacturing industries …
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How do firms adjust their output, inventories, employment and capital in response to demandsideshocks? To understand this, we estimate a reduced-form model using firm-level panel dataand we construct a theoretical model that can match the estimated impulse-response functions.A combination of...
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