| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17971 |
| 来源ID | Working Paper 17971 |
| Productivity and the Welfare of Nations | |
| Susanto Basu; Luigi Pascali; Fabio Schiantarelli; Luis Serven | |
| 发表日期 | 2012-04-05 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We show that the welfare of a country's infinitely-lived representative consumer is summarized, to a first order, by total factor productivity (TFP) and by the capital stock per capita. These variables suffice to calculate welfare changes within a country, as well as welfare differences across countries. The result holds regardless of the type of production technology and the degree of product market competition. It applies to open economies as well, if TFP is constructed using domestic absorption, instead of gross domestic product, as the measure of output. 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, and will typically sum to less than one. These results are used 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 | Microeconomics ; Households and Firms ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w17971 |
| 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/575647 |
| 推荐引用方式 GB/T 7714 | Susanto Basu,Luigi Pascali,Fabio Schiantarelli,et al. Productivity and the Welfare of Nations. 2012. |
| 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 | ||
| w17971.pdf（696KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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