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Using detailed 10-year production data from 500,000 Chinese manufacturing plants, the research team estimated the effects of temperature on firm-level productivity as well as factor inputs and output.
Let a lowercase variable denote a quantity divided by country population, [P.sub.m], and let us express quantities relative to the United States, so that, for example, relative GDP per capita is defined [mathematical expression not reproducible] can then decompose a country's GDP per capita level relative to the United States into the contribution from differences in factor inputs and differences in productivity levels:
In giving an example, it said the economy is more dependent on traditional factor inputs and less on productivity to drive growth.
transcendental logarithmic production function (trans-log) of the Cobb-Douglas function imposing no prior restrictions on elasticity of substitutions of factor inputs and returns to scale [Christensen, et al.
In this paper I consider a general optimal growth model, one in which there is a direct link between either aggregate net output or the factor inputs that produce it, and the share of output allocated to government consumption.
Proposition 1: Firms should take deliberate action to break down, or actively question, myopic views of factor inputs.
Habitat suitability environmental factor inputs that were investigated included water depth, average salinity, maximum temperature, minimum temperature, and minimum DO.
In empirical application, however, the changes in the quality of factor inputs are hard to calculate and often omitted, without reflecting embodied technical progress correctly.
The percentage share of factor inputs presented in the table indicated that share of wages was higher than the share of capital.
In other words, TFP growth is commonly measured as the unexplained residual in a growth model in which factor inputs are the only explanatory variables.
Fernald (2014) identifies three major sources of variations in quarterly labor productivity: available factor inputs per hour worked, the intensity with which firms use available capital and labor, and total factor productivity, a residual component that captures the productivity-enhancing effects of various unmeasured factors.