| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15600 |
| DP15600 Productivity and the Welfare of Nations | |
| Susanto Basu; Luigi Pascali; Fabio Schiantarelli; Luis Servén | |
| 发表日期 | 2020-12-23 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We show that the welfare of a countryís infinitely-lived representative consumer is summarized, to a first order, by total factor productivity (TFP), appropriately defined, and by the capital stock per capita. The result holds for both closed and open economies, regardless of the type of production technology and the degree of product market competition. Welfare-relevant TFP needs to be constructed with prices and quantities as perceived by consumers, not firms. Thus, factor shares need to be calculated using after-tax wages and rental rates. We use these results to calculate welfare gaps and growth rates in a sample of advanced countries with high-quality data on output, hours worked, and capital. We also present evidence for a broader sample that includes both advanced and developing countries. |
| 主题 | International Macroeconomics and Finance ; Macroeconomics and Growth |
| 关键词 | Productivity Welfare Tfp Solow residual |
| URL | https://cepr.org/publications/dp15600 |
| 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/544610 |
| 推荐引用方式 GB/T 7714 | Susanto Basu,Luigi Pascali,Fabio Schiantarelli,et al. DP15600 Productivity and the Welfare of Nations. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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