Total factor productivity and macroeconomic instability
نویسندگان
چکیده
منابع مشابه
Total 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 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 کاملFinancial Shocks and Endogenous Total Factor Productivity
This paper presents and estimates a dynamic stochastic general equilibrium model in which labor reallocations between production and organizational tasks and endogenous movements in measured TFP serve as an ampli cation mechanism in business cycles. In our model, the organizational tasks are related to accumulation of organizational capital which enhances the nancial relationships between rms...
متن کاملPublic Debt and Total Factor Productivity
This paper explores the role of public debt and fiscal deficits on factor productivity in an economy with credit market frictions and heterogeneous firms. When credit market conditions are sufficiently weak, low interest rates permit the government to run Ponzi schemes so that permanent primary deficits can be sustained. For small enough deficit ratios, the model has two steady states of which ...
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: The Journal of International Trade & Economic Development
سال: 2011
ISSN: 0963-8199,1469-9559
DOI: 10.1080/09638190903365930