| Record ID | marc_loc_2016/BooksAll.2016.part37.utf8:78481543:2386 |
| Source | Library of Congress |
| Download Link | /show-records/marc_loc_2016/BooksAll.2016.part37.utf8:78481543:2386?format=raw |
LEADER: 02386cam a22002777a 4500
001 2009655830
003 DLC
005 20091230084552.0
007 cr |||||||||||
008 091229s2009 mau sb 000 0 eng
010 $a 2009655830
040 $aDLC$cDLC
050 00 $aHB1
245 00 $aProductivity, welfare and reallocation: theory and firm-level evidence$h[electronic resource] /$cSusanto Basu, Luigi Pascali, Fabio Schiantarelli, Luis Serven.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2009.
490 1 $aNBER working paper series ;$vworking paper 15579
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 12/29/2009.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"We prove that the change in welfare of a representative consumer is summarized by the current and expected future values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility while taking prices parametrically. This result justifies TFP as the right summary measure of welfare (even in situations where it does not properly measure technology) and makes it possible to calculate the contributions of disaggregated units (industries or firms) to aggregate welfare using readily available TFP data. Based on this finding, we compute firm and industry contributions to welfare for a set of European OECD countries (Belgium, France, Great Britain, Italy, Spain), using industry-level (EU-KLEMS) and firm-level (Amadeus) data. After adding further assumptions about technology and market structure (firms minimize costs and face common factor prices), we show that welfare change can be decomposed into three components that reflect respectively technical change, aggregate distortions and allocative efficiency. Using the appropriate firm-level data, we assess the importance of each of these components as sources of welfare improvement in the same set of European countries"--National Bureau of Economic Research web site.
700 1 $aBasu, Susanto.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 15579.
856 40 $uhttp://www.nber.org/papers/w15579