Redistributive Policies and TFP Differences Across Countries
نویسندگان
چکیده
Economists point towards cross-country differences in TFP to explain wide differences in income per capita across countries. This paper derives theoretical restrictions for interpreting the data based on a neoclassical, dynamic general equilibrium model in which the institutional and technological factors and scal policies signi cantly alter overall productivity as measured by the conventional de nition of TFP. The numerical results highlight that the cross-country differences in output per capita across U.S., New Zealand and Australia, can not be signi cantly explained by the TFP differences.
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