| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7201 |
| DP7201 What?s News in Business Cycles | |
| Martín Uribe; Stephanie Schmitt-Grohé | |
| 发表日期 | 2009-03-23 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | The EU-US total factor productivity (TFP) growth gap since the mid-1990's is concentrated in a handful of market service industries (most notably retail trade) and in ICT-producing manufacturing, whilst the EU exhibits a stronger performance in a number of the network utilities. This paper explores the industry-specific determinants of the EU-US TFP growth gap using the EU KLEMS database. As found in previous analyses (e.g., Nicoletti and Scarpetta (2003); Griffith, Redding, and Van Reenen (2004); Inklaar, Timmer and Van Ark (2008)), TFP growth appears to be driven by catching-up phenomena associated with the gradual adoption of new-vintage technologies. Compared with previous analyses, TFP growth is also significantly driven by developments taking place at the "technological frontier," increasingly so since the mid-1990's. Industries with higher R&D expenditures and higher adoption rates for ICT-intensive technologies appear to exhibit higher TFP growth rates, whilst human capital has mostly a significant effect across countries. Regarding industry specific determinants, ICT producing industries appear to benefit from R&D in terms of stronger spillovers from TFP gains at the frontier; network utilities are strongly affected by improvements associated with reduced product market regulations; whilst the retail trade industry is significantly influenced by consumption dynamics which permit a better exploitation of scale economies. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | European union Growth determinants Total factor productivity |
| URL | https://cepr.org/publications/dp7201 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536075 |
| 推荐引用方式 GB/T 7714 | Martín Uribe,Stephanie Schmitt-Grohé. DP7201 What?s News in Business Cycles. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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