Techniques Choice, Misallocation and Total Factor Productivity
نویسندگان
چکیده
منابع مشابه
Information, Misallocation and Aggregate Productivity
We explore the implications of imperfect information about firm-level fundamentals for the misallocation of factors of production across heterogeneous firms and the consequences for aggregate productivity and output. In our setup, firms learn from both private sources and stock market prices, the latter determined in a noisy rational expectations model of asset markets. We devise a novel calibr...
متن کاملTotal Factor Productivity∗
Total Factor Productivity (TFP) is the portion of output not explained by the amount of inputs used in production. The following definition describes the measurement and importance of TFP for growth, fluctuations and development as well as likely future directions of research. Total Factor Productivity (TFP) is the portion of output not explained by the amount of inputs used in production. As s...
متن کاملBubbles and Total Factor Productivity
Evidence shows that asset price bubbles typically precede financial crises and financial crises are accompanied by the collapse of bubbles. In addition, stock market booms and busts are typically associated with credit market booms and busts. The recent US housing and stock market bubbles and the subsequent Great Recession that began in late 2007 provide an example. The stock market booms in th...
متن کاملMisallocation and Productivity during the Great Depression
Aggregate productivity fell by 18% between 1929 and 1933. Existing explanations for this decline have focused on unobserved shifts in factor inputs such as labor hoarding. I develop a new hypothesis that focuses on the role of resource misallocation between heterogeneous firms. Using a novel plant-level dataset, I study two industries: manufactured ice and cement. I decompose the overall change...
متن کاملPolicy Uncertainty, Total Factor Productivity and Growth
This note shows that differences (across sectors or regions) in the effective price of inputs results in low measured total factor productivity (TFP).
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2014
ISSN: 1556-5068
DOI: 10.2139/ssrn.2533025