Policy Distortions And Aggregate Productivity With Heterogeneous Plants
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Policy Distortions And Aggregate Productivity With Heterogeneous Plants
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Author : Diego Restuccia
language : en
Publisher:
Release Date : 2007
Policy Distortions And Aggregate Productivity With Heterogeneous Plants written by Diego Restuccia and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Capital categories.
We formulate a version of the growth model in which production is carried out by heterogeneous plants and calibrate it to US data. In the context of this model we argue that differences in the allocation of resources across heterogeneous plants may be an important factor in accounting for cross-country differences in output per capita. In particular, we show that policies which create heterogeneity in the prices faced by individual producers can lead to sizeable decreases in output and measured TFP in the range of 30 to 50 percent. We show that these effects can result from policies that do not rely on aggregate capital accumulation or aggregate relative price differences. More generally, the model can be used to generate differences in capital accumulation, relative prices, and measured TFP.
Impact Of Policy Distortions On Plant Level Innovation Productivity Dynamics And Tfp
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Author : Ashantha Ranasinghe
language : en
Publisher:
Release Date : 2014
Impact Of Policy Distortions On Plant Level Innovation Productivity Dynamics And Tfp written by Ashantha Ranasinghe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Plant-level innovation is introduced into an heterogeneous plant setting so that productivity dynamics are endogenous. When policy distortions are positively correlated with plant productivity, I argue that accounting for plant innovation is important for understanding TFP differences across countries. All plants reduce innovation thereby generating an endogenous right skew in the distribution over productivity which magnifies TFP losses. Quantitatively, the innovation channel is important: up to 50 percent of the losses in TFP are due to changes in innovation at the plant level. While idiosyncratic policy distortions have a profound effect on innovation and TFP, aggregate distortions have only mild effects. This is because idiosyncratic distortions have a non-proportional effect across plants which distorts the gains to improving productivity.
Land Market Distortions And Aggregate Agricultural Productivity Evidence From Guatemala
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Author : Britos, Braulio
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2020-11-06
Land Market Distortions And Aggregate Agricultural Productivity Evidence From Guatemala written by Britos, Braulio and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-06 with Political Science categories.
Farm size and land allocation are important factors in explaining lagging agricultural productivity in developing countries. This paper examines the effect of land market imperfections on land allocation across farmers and aggregate agricultural productivity. We develop a theoretical framework to model the optimal size distribution of farms and assess to what extent market imperfections can explain non-optimal land allocation and output in-efficiency. We measure these distortions for the case of Guatemala using agricultural census microdata. We find that due to land market imperfections aggregate output is 19% below its efficient level for both maize and beans and 31% below for coffee, which are three major crops produced nationwide. The regions with higher distortions show a higher dispersion in land prices and less active rental markets. We also find that the degree of land market distortions across locations co-variate with road accessibility and ethnicity and, in a lower extent, with education.
Resource Misallocation And Productivity Evidence From Mexico
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Author : Florian Misch
language : en
Publisher: International Monetary Fund
Release Date : 2018-05-15
Resource Misallocation And Productivity Evidence From Mexico written by Florian Misch and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-15 with Business & Economics categories.
This paper explores the role for specific structural distortions in explaining Mexico’s weak productivity growth through the resource misallocation channel. The paper makes two contributions. First, we validate the approach of measuring misallocation indirectly (Hsieh and Klenow, 2009) by illustrating a close correlation between misallocation and per capita incomes across Mexican states. Second, we exploit the large variation in resource misallocation within industries and across states together with unusually rich data at the firm, local, and industry level to shed light on its determinants. We identify several well-defined distortions that have a statistically and economically meaningful effect on productivity via resource misallocation.
Distortions Producer Dynamics And Aggregate Productivity
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Author : Stephen Ayerst
language : en
Publisher:
Release Date : 2023
Distortions Producer Dynamics And Aggregate Productivity written by Stephen Ayerst and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
Chinese Macroeconomy
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Author : Ninghua Sun
language : en
Publisher: Taylor & Francis
Release Date : 2022-10-17
Chinese Macroeconomy written by Ninghua Sun and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-17 with Business & Economics categories.
This book deploys quantitative methods to focus on the operation of the Chinese economy as a whole since the reforms in 1978, by combining a range of mathematical, algorithmic and computational methods to analyze rich empirical data, seeking to demonstrate the long-term economic trends and dynamics of economic growth and fluctuations in China. To answer the core question of how the Chinese economy became what it is, the author draws on dynamic stochastic general equilibrium (DSGE) modeling and calibration, while also exploring microfoundations to reveal optimization behavior within a context of economic change at the macrolevel. The book examines internal shocks in the Chinese economic system, including institutional changes, credit policy and monetary policy, which are all closely associated with issues of enhancing the coordination and sustainability of development and the effectiveness and efficiency of policy reforms. It also elaborates on China’s close interactions with the global economy, shedding light on the dynamic effects of energy prices, the Chinese Yuan exchange rate and foreign direct investment. This book is an essential reference for researchers and students interested in the Chinese economy, methods of microeconomic dynamics and macroeconomic theory and policy.
Corporate Indebtedness And Low Productivity Growth Of Italian Firms
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Author : Gareth Anderson
language : en
Publisher: International Monetary Fund
Release Date : 2018-02-23
Corporate Indebtedness And Low Productivity Growth Of Italian Firms written by Gareth Anderson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-23 with Business & Economics categories.
Productivity growth in Italy has been persistently anemic and has lagged that of the euro area over the period 1999-2015, while the indebtedness of its corporate sector has increased. Using the ORBIS firm-level database, this paper studies the long-term impact of persistent corporate-debt accumulation on the productivity growth of Italian firms and investigates whether total factor productivity growth varies with the level of corporate indebtedness. We employ a novel estimation technique proposed by Chudik, Mohaddes, Pesaran, and Raissi (2017) to account for dynamics, bi-directional feedback effects, cross-firm heterogeneity, and cross-sectional dependence arising from unobserved common factors (for example, oil price shocks, labor and product market frictions, and stance of global financial cycle). Filtering out the effects of unobserved common factors and controlling for firmspecific characteristics, we find significant negative effects of persistent corporate debt build-up on total factor productivity growth, and weak evidence of a threshold level of corporate debt, beyond which productivity growth drops off significantly. Our results have strong policy implications, for example the design of the tax system should discourage persistent corporate debt accumulation, and effective and timely frameworks to reduce corporate debt overhangs are essential.
Proceedings Of Iac 2018 In Budapest
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Author : group of authors
language : en
Publisher: Czech Institute of Academic Education
Release Date : 2018-03-13
Proceedings Of Iac 2018 In Budapest written by group of authors and has been published by Czech Institute of Academic Education this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-13 with Political Science categories.
International Academic Conference on Teaching, Learning and E-learning and International Academic Conference on Management, Economics and Marketing and International Academic Conference on Transport, Logistics, Tourism and Sport Science
Productivity And Inequality
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Author : William H. Greene
language : en
Publisher: Springer
Release Date : 2018-02-02
Productivity And Inequality written by William H. Greene and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-02 with Business & Economics categories.
The volume highlights the state-of-the-art knowledge (including data analysis) of productivity, inequality and efficiency analysis. It showcases a selection of the best papers from the 9th North American Productivity Workshop. These papers are relevant to academia, but also to public and private sectors in terms of the challenges that firms, financial institutions, governments, and individuals may face when dealing with economic and education related activities that lead to increase or decrease of productivity. The volume also aims to bring together ideas from different parts of the world about the challenges those local economies and institutions may face when changes in productivity are observed. These contributions focus on theoretical and empirical research in areas including productivity, production theory and efficiency measurement in economics, management science, operation research, public administration, and education. The North American Productivity Workshop (NAPW) brings together academic scholars and practitioners in the field of productivity and efficiency analysis from all over the world, and this proceedings volume is a reflection of this mission. The papers in this volume also address general topics as education, health, energy, finance, agriculture, transport, utilities, and economic development, among others. The editors are comprised of the 2016 local organizers, program committee members, and celebrated guest conference speakers.
Macroeconomic Policy After The Crash
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Author : Richard Barwell
language : en
Publisher: Springer
Release Date : 2017-03-16
Macroeconomic Policy After The Crash written by Richard Barwell and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-16 with Political Science categories.
This book reviews the key policy debates during the post-crash era, describing the issues that policymakers grappled with, the decisions that they took and the details of the policy instruments that were created. Focusing specifically on issues in monetary and fiscal policy, chapters demonstrate that very little that was done during this period conformed to the simple textbook treatment of macroeconomic policy: central banks cutting policy rates or finance ministers cutting the rate of income tax. The author guides the reader through the revolution in the conduct of macroeconomic policy in an engaging and approachable manner, and illuminates the key innovations in the toolkit and themes in the debate over past years with great detail, from negative rates to quantitative easing, and from austerity versus financial repression, restructuring and default to productivity puzzles and deflation.