| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15579 |
| 来源ID | Working Paper 15579 |
| Productivity, Welfare and Reallocation: Theory and Firm-Level Evidence | |
| Susanto Basu; Luigi Pascali; Fabio Schiantarelli; Luis Serven | |
| 发表日期 | 2009-12-10 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We prove that in a closed economy without distortionary taxation, the welfare of a representative consumer is summarized to a first order by the current and expected future values of the Solow productivity residual in level and by the initial endowment of capital. The equivalence holds if the representative household maximizes utility while taking prices parametrically. This result justifies TFP as the right summary measure of welfare (even in situations where it does not properly measure technology) and makes it possible to calculate the contributions of disaggregated units (industries or firms) to aggregate welfare using readily available TFP data. We show how these results must be modified if the economy is open or if taxes are distortionary. We then compute firm and industry contributions to welfare for a set of European OECD countries (Belgium, France, Great Britain, Italy, Spain), using industry-level (EU-KLEMS) and firm-level (Amadeus) data. After adding further assumptions about technology and market structure (firms minimize costs and face common factor prices), we show that welfare change can be decomposed into three components that re.ect respectively technical change, aggregate distortions and allocative efficiency. Then, using the appropriate firm-level data, we assess the importance of each of these components as sources of welfare improvement in the same set of European countries. |
| 主题 | Microeconomics ; Households and Firms ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w15579 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573255 |
| 推荐引用方式 GB/T 7714 | Susanto Basu,Luigi Pascali,Fabio Schiantarelli,et al. Productivity, Welfare and Reallocation: Theory and Firm-Level Evidence. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15579.pdf（381KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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