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来源类型Working Paper
规范类型报告
DOI10.3386/w26803
来源IDWorking Paper 26803
Utilization-Adjusted TFP Across Countries: Measurement and Implications for International Comovement
Zhen Huo; Andrei A. Levchenko; Nitya Pandalai-Nayar
发表日期2020-03-02
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 co-movement.
主题International Economics ; International Macroeconomics
URLhttps://www.nber.org/papers/w26803
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/584475
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GB/T 7714
Zhen Huo,Andrei A. Levchenko,Nitya Pandalai-Nayar. Utilization-Adjusted TFP Across Countries: Measurement and Implications for International Comovement. 2020.
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