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We show that the welfare of a country's infinitely-lived representative consumer is summarized, to a first order, by total factor productivity and by the capital stock per capita. These variables suffice to calculate welfare changes within a country, as well as welfare differences across...
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decomposition of TFP can be applied to a large sample of subsidized firms for a relevant period of time, allowing to evaluate either … impact of public subsidies on TFP and efficiency is positive and statistically significant. …
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Previous research shows that technical progress at the industry level, measured by sectoral TFP growth, is more … localized in continental European countries than in Anglo-Saxon coun-tries. We use EU KLEMS data sets to decompose sectoral TFP … technological progress is much more evenly distributed across sectors than TFP. …
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