General Equilibrium Analysis of International TFP Growth Rates
The paper presents a study of the total factor productivity (TFP) performance among developed countries between 1985 and 1990. The analysis includes the three large economies: the US, Japan and Europe. A general equilibrium model of these economies is used to estimate TFP growth at the sectoral and at the aggregate levels. The model is based on the fundamentals of the economies and employs only data on input-output flows, factor inputs across sectors, consumption and trade patterns and endowments. Prices are endogenous in the model. They are obtained as shadow prices from the model's linear program and then used to measure TFP growth and decompose it in a technical change effect, a demand effect and a terms-of-trade effect. The technical change effect is highly correlated with the conventional Solow residual measure. This result lends support to the standard measure of technological change.
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Volume (Year): 13 (2001)
Issue (Month): 4 ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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88-34, C.V. Starr Center for Applied Economics, New York University.
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- Pirkko Aulin-Ahmavaara, 1999. "Effective Rates of Sectoral Productivity Change," Economic Systems Research, Taylor & Francis Journals, vol. 11(4), pages 349-363.
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- Pierre Mohnen & Thijs Ten Raa, 1999. "Sources of Productivity Growth: Technology, Terms of Trade, and Preference Shifts," CIRANO Working Papers 99s-21, CIRANO.
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