If factor shares are not constant then we have a measurment problem. can we solve it?
Recent evidence show that factor shares, if properly measured, are far from constant. Moreover, the shares of natural resources and raw labor seem to be negatively correlated with income per capita while the share of human and physical capital is positively correlated with income per capita. No...
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Universidad del Rosario
2009
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ir-10336-112872019-09-19T12:37:01Z If factor shares are not constant then we have a measurment problem. can we solve it? Zuleta, Hernando Economía Economía Medición Crecimiento económico Acciones (Bolsa) Aspectos económicos Factor Shares Production Function Measurement Recent evidence show that factor shares, if properly measured, are far from constant. Moreover, the shares of natural resources and raw labor seem to be negatively correlated with income per capita while the share of human and physical capital is positively correlated with income per capita. Now, if factor shares are not constant then (i) growth accounting exercises rely on a false assumption and (ii) there is a measurement problem. The effect that change s in factor shares ha ve on output depend on the relative abundance of factors and, fo r this reason, it is necessary to have correct measures. We propose an empiri cal methodology to solve the measurement issue and estimate TFP growth. 2009-08 2015-10-16T12:57:05Z info:eu-repo/semantics/workingPaper info:eu-repo/semantics/acceptedVersion http://repository.urosario.edu.co/handle/10336/11287 Universidad del Rosario spa info:eu-repo/semantics/openAccess application/pdf Universidad del Rosario Facultad de Economía instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR instname:Universidad del Rosario |
institution |
EdocUR - Universidad del Rosario |
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DSpace |
language |
Español (Spanish) |
topic |
Economía Economía Medición Crecimiento económico Acciones (Bolsa) Aspectos económicos Factor Shares Production Function Measurement |
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Economía Economía Medición Crecimiento económico Acciones (Bolsa) Aspectos económicos Factor Shares Production Function Measurement Zuleta, Hernando If factor shares are not constant then we have a measurment problem. can we solve it? |
description |
Recent evidence show that factor shares, if properly measured, are far from constant.
Moreover, the shares of natural resources and raw labor seem to be negatively correlated with income per capita while the share of human and physical capital is
positively correlated with income per capita. Now, if factor shares are not constant
then (i) growth accounting exercises rely on a false assumption and (ii) there is a
measurement problem. The effect that change
s in factor shares ha
ve on output depend
on the relative abundance of factors and, fo
r this reason, it is necessary to have
correct measures. We propose an empiri
cal methodology to solve the measurement
issue and estimate TFP growth. |
format |
Documento de trabajo (Working Paper) |
author |
Zuleta, Hernando |
author_facet |
Zuleta, Hernando |
author_sort |
Zuleta, Hernando |
title |
If factor shares are not constant then we have a measurment problem. can we solve it? |
title_short |
If factor shares are not constant then we have a measurment problem. can we solve it? |
title_full |
If factor shares are not constant then we have a measurment problem. can we solve it? |
title_fullStr |
If factor shares are not constant then we have a measurment problem. can we solve it? |
title_full_unstemmed |
If factor shares are not constant then we have a measurment problem. can we solve it? |
title_sort |
if factor shares are not constant then we have a measurment problem. can we solve it? |
publisher |
Universidad del Rosario |
publishDate |
2009 |
url |
http://repository.urosario.edu.co/handle/10336/11287 |
_version_ |
1645141812314112000 |
score |
12,131701 |