Esfahani, Mehrdad
World productivity 1996–2014 / by Mehrdad Esfahani, John G. Fernald, and Bart Hobijn
Bibliografía
We use a new growth accounting method to quantify the drivers of world total factor productivity (TFP) growth during 1996–2014 and uncover four main results. World productivity growth is volatile from year to year. This mainly reflects reallocation of labor across country-industries. The contribution of country-industry level productivity growth to world productivity is relatively constant over time. This constancy masks that the increased importance of emerging economies offsets a productivity slowdown in advanced economies. After 2008, this offsetting effect dissipated and world TFP growth declined. These conclusions are robust to the inclusion of markups in the analysis.
MACROECONOMIA
PAISES EN DESARROLLO
CICLOS ECONOMICOS
INNOVACIÓN
Fernald, John G.
Hobijn, Bart 1970-
American Economic Journal : Macroeconomics 1945-7707 v. 16, n. 3, July 2024, p. 160-189.
World productivity 1996–2014 / by Mehrdad Esfahani, John G. Fernald, and Bart Hobijn
Bibliografía
We use a new growth accounting method to quantify the drivers of world total factor productivity (TFP) growth during 1996–2014 and uncover four main results. World productivity growth is volatile from year to year. This mainly reflects reallocation of labor across country-industries. The contribution of country-industry level productivity growth to world productivity is relatively constant over time. This constancy masks that the increased importance of emerging economies offsets a productivity slowdown in advanced economies. After 2008, this offsetting effect dissipated and world TFP growth declined. These conclusions are robust to the inclusion of markups in the analysis.
MACROECONOMIA
PAISES EN DESARROLLO
CICLOS ECONOMICOS
INNOVACIÓN
Fernald, John G.
Hobijn, Bart 1970-
American Economic Journal : Macroeconomics 1945-7707 v. 16, n. 3, July 2024, p. 160-189.