| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14438 |
| DP14438 Utilization-Adjusted TFP Across Countries: Measurement and Implications for International Comovement | |
| Zhen Huo; Andrei Levchenko; Nitya Pandalai-Nayar | |
| 发表日期 | 2020-02-24 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper develops estimates of TFP growth adjusted for movements in unobserved factor utilization for a panel of 29 countries and up to 37 years. When factor utilization changes are unobserved, the commonly used Solow residual mismeasures actual changes in TFP. We use a general equilibrium dynamic multi-country multi-sector model to derive a production function estimating equation that corrects for unobserved factor usage. We compare the properties of utilization-adjusted TFP series to the standard Solow residual, and quantify the roles of both TFP and utilization for international business cycle comovement. Utilization-adjusted TFP is virtually uncorrelated across countries, and does not generate much GDP comovement through its propagation. Shocks to factor utilization can more successfully account for international comovement. |
| 主题 | International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| 关键词 | Tfp Utilization Solow residual International comovement |
| URL | https://cepr.org/publications/dp14438-3 |
| 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/543336 |
| 推荐引用方式 GB/T 7714 | Zhen Huo,Andrei Levchenko,Nitya Pandalai-Nayar. DP14438 Utilization-Adjusted TFP Across Countries: Measurement and Implications for International Comovement. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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