values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility … while taking prices parametrically. This result justifies total factor productivity (TFP) as the right summary measure of …

values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …. -- Productivity ; welfare ; reallocation ; technology ; TFP …

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 …

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

values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility … while taking prices parametrically. This result justifies total factor productivity (TFP) as the right summary measure of …

education expenditures, financed by distorting taxes, enhance the productivity of private education choices. We allow public … variance of total factor productivity shocks. Our results indicate that, in the face of increasing aggregate uncertainty …

This paper studies the effects of public infrastructure investment policies. A dynamic general equilibrium model where … the effective stock of public infrastructure is an input in production is used to analyze the consequences of changing the … share of GDP devoted to public investment. Infrastructure has sizable long-run effects on an economy's GDP. The model is …

, and end users, in the context of road transportation. Using a game-theoretical analysis of suppliers' pricing strategies …, we assess the social welfare effects of traffic information under various road markets with different ownership regimes … negligible. Collusion of the road operator and information provider yields higher social welfare than independent pricing by two …