World productivity growth: a model averaging approach

Duygun, Meryem; Hao, Jiaqi; Isaksson, Anders; Sickles, Robin C.

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.

• Journal Article Type: Article
• Acceptance Date: Jun 6, 2017
• Online Publication Date: Oct 26, 2017
• Deposit Date: Aug 22, 2017
• Publicly Available Date: Oct 27, 2019
• Journal: Pacific Economic Review
• Print ISSN: 1361-374X
• Electronic ISSN: 1468-0106
• Publisher: Wiley
• Peer Reviewed: Peer Reviewed
• Volume: 22
• Issue: 4
• DOI: https://doi.org/10.1111/1468-0106.12238
• Keywords: Productivity; Panel Data; Economic Growth; Time Varying Unobservable Effects
• Public URL: https://nottingham-repository.worktribe.com/output/889928
• Publisher URL: http://onlinelibrary.wiley.com/doi/10.1111/1468-0106.12238/full
• Additional Information: This is the peer reviewed version of the following article: Duygun, M., Hao, J., Isaksson, A., and Sickles, R. C. (2017) World Productivity Growth: A Model Averaging Approach. Pacific Economic Review, 22: 587–619. doi: 10.1111/1468-0106.12238 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/1468-0106.12238/full This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.