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A New Measure of Utilization-adjusted TFP Growth for Europe and the United States / Diego A. Comin, Javier Quintana Gonzalez, Tom G. Schmitz, Antonella Trigari.
- Format:
- Book
- Author/Creator:
- Comin, Diego A.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w28008.
- NBER working paper series no. w28008
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- We compute new estimates for Total Factor Productivity (TFP) growth in the United States and in five European countries. Departing from standard methods, we account for positive profits and use firm surveys to proxy for unobserved changes in factor utilization. These novelties have a major impact, especially in Europe, where our estimated TFP growth series are less volatile and less cyclical than the ones obtained with standard methods. Based on our approach, we provide annual industry-level and aggregate TFP series, as well as the first estimates of utilization-adjusted quarterly TFP growth in Europe.
- Notes:
- Print version record
- October 2020.
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