Productivity Measurement, Model Averaging, and World Trends in Growth and Inequality

Robin Sickles, Jiaqi Hao () and Chenjun Shang ()
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Jiaqi Hao: ATB Financial
Chenjun Shang: Rice University

Chapter Chapter 17 in Productivity and Efficiency Analysis, 2016, pp 305-323 from Springer

Abstract: Abstract Our paper provides new methods to robustify productivity growth measurement by utilizing various economic theories explaining economic growth and productivity and the econometric model generated by that particular theory. We utilize the World Productivity Database from the UNIDO to analyze productivity during the period 1960–2010 for OECD countries. We focus on three competing models from the stochastic frontier literature, Cornwell et al. (J Econ 46(1):185–200, 1990), Kumbhakar (J Econ 46(1):201–211, 1990) and Battese, Coelli (J Prod Anal 3(1–2):153–169, 1992) to estimate productivity growth and its decomposition into technical change and efficiency change and utilize methods due to Hansen (2010) to construct optimal weights in order to model average the results from these three approaches.

Keywords: Productivity; Panel data; Stochastic frontiers; Time varying heterogeneity; Model averaging; United Nations Industrial Development Organization (search for similar items in EconPapers)
Date: 2016
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Working Paper: Productivity Measurement, Model Averaging, and World Trends in Growth and Inequality (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-23228-7_17

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DOI: 10.1007/978-3-319-23228-7_17

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