World Productivity Growth: A Model Averaging Approach. (26th October 2017)

• Record Type: Journal Article
• Authors: Duygun, Meryem; Hao, Jiaqi; Isaksson, Anders; Sickles, Robin C.
• Is Part Of: Pacific economic review. Volume 22:Number 4(2017)
• Page Start: 587
• Page End: 619
• Publication Date: 2017-10-26
• Subjects: Pacific Area -- Economic conditions -- Periodicals; 330
• DOI: 10.1111/1468-0106.12238
• Languages: English
• ISSNs: 1361-374X

Abstract

Abstract: Policy makers and the economic researchers who provide them estimates of economic activity need to have an informative and scientifically‐based method to develop a consensus estimate for the most basic of the productivity measures, total factor productivity (TFP) growth. We discuss methods to combine the various estimates based on different empirical specifications that model and estimate productivity growth. We also discuss the various econometric approaches used in the profession to estimate productivity growth. Our focus is on world TFP growth.