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| Author: | Basu, S. Fernald, J.G. |
| Title: | Aggregate productivity and aggregate technology |
| Journal: | European Economic Review
2002 : JUN, VOL. 46:6, p. 963-991 |
| Index terms: | BUSINESS CYCLES GROWTH PRODUCTIVITY TECHNOLOGY WELFARE |
| Freeterms: | AGGREGATION |
| Language: | eng |
| Abstract: | Aggregate productivity and aggregate technology are meaningful but distinct concepts. The authors show that a slightly modified Solow productivity residual measures changes in economic welfare, even when productivity and technology differ because of distortions such as imperfect competition. |
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