The Illusions of Calculating Total Factor Productivity and Testing Growth Models: From Cobb–Douglas to Solow and Romer

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dc.contributor.authorADB; Felipe, Jesus; McCombie, John
dc.date.accessioned2021-10-05T15:04:37Z
dc.date.available2021-10-05T15:04:37Z
dc.date.issued2019-10
dc.descriptionThis paper shows why aggregate production functions seem to work empirically. Aggregate production functions yield high fits and factor elasticities close to the corresponding factor shares because they are approximations to an accounting identity. Authors show through a series of examples why one learns little from the neoclassical growth literature published during the last 6 decades.
dc.format.extent40
dc.identifier.isbnN/A
dc.identifier.isbnN/A
dc.identifier.issn2313-6537
dc.identifier.issn2313-6545
dc.identifier.urihttps://www.adb.org/publications/total-factor-productivity-testing-growth-models
dc.identifier.urihttps://hdl.handle.net/20.500.14540/5568
dc.subject.otherEconomic data
dc.subject.otherEconomic research
dc.subject.otherEconomics
dc.subject.otherTrade finance
dc.titleThe Illusions of Calculating Total Factor Productivity and Testing Growth Models: From Cobb–Douglas to Solow and Romer
local.publication.countryRegional - Asia and the Pacific

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