Editorial TFP 2009/2010
نویسندگان
چکیده
منابع مشابه
A Model of TFP
This paper proposes an aggregative model of total factor productivity (TFP) in the spirit of Houthakker (1955—1956). It considers a frictional labor market where production units are subject to idiosyncratic shocks and jobs are created and destroyed as in Mortensen and Pissarides (1994). An aggregate production function is derived by aggregating across micro production units in equilibrium. The...
متن کاملTowards a Theory of TFP*
We begin the development of a theory of total factor productivity (TFP) by presenting a multi-sector model of general purpose technology (GPT) driven growth, which generates numerical data via simulation and confirm the theoretical predictions of Carlaw and Lipsey (2003) and Lispey and Carlaw (2004) that TFP is not a contemporaneous measure of technological change. The modeling framework enable...
متن کاملTFP during a credit crunch
The financial crisis of 2008 was followed by sharp contractions in aggregate output and employment and an unusual increase in aggregate total factor productivity (TFP). This paper attempts to explain these facts by modeling the creation and destruction of jobs in the presence of heterogeneity in firm productivity and frictional credit and labor markets. The aggregate level of TFP is determined ...
متن کاملTFP Declines: Misallocation or Mismeasurement?
Abstract This paper documents the sectoral growth paths of measured total factor productivity (TFP) in southern Europe during the boom that proceeded the great contraction (1996 to 2007). Using both aggregate and firm-level panel data, I show that TFP in sectors that displayed fast expansion, such as construction, dropped significantly, while in non-expanding sectors, such as manufacturing, it ...
متن کاملRedistributive Policies and TFP Differences Across Countries
Economists point towards cross-country differences in TFP to explain wide differences in income per capita across countries. This paper derives theoretical restrictions for interpreting the data based on a neoclassical, dynamic general equilibrium model in which the institutional and technological factors and scal policies signi cantly alter overall productivity as measured by the conventional ...
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ژورنال
عنوان ژورنال: Higher-Order and Symbolic Computation
سال: 2013
ISSN: 1388-3690,1573-0557
DOI: 10.1007/s10990-014-9102-x