Aggregation of economic growth rates and of its sources

Zelenyuk, Valentin (2011) Aggregation of economic growth rates and of its sources. European Journal of Operational Research, 212 1: 190-198.


Author Zelenyuk, Valentin
Title Aggregation of economic growth rates and of its sources
Journal name European Journal of Operational Research   Check publisher's open access policy
ISSN 0377-2217
1872-6860
Publication date 2011-07-01
Sub-type Article (original research)
DOI 10.1016/j.ejor.2011.01.008
Volume 212
Issue 1
Start page 190
End page 198
Total pages 9
Place of publication Amsterdam, Netherlands
Publisher Elsevier BV
Collection year 2012
Language eng
Formatted abstract In this paper we consider the question of measuring aggregate economic growth and its sources. We derive a theoretically justified solution for aggregating (across firms, industries, countries, etc.) growth rates and their sources within the framework of Solow's (1957) growth accounting method. The resulting aggregation scheme turns out to be quite intuitive and, in fact, the one that is sometimes used in practice, but with theoretical justification missing and so the main value of our work is that our formal derivations show under what conditions this scheme has economic theory justification. We also provide a small empirical illustration of our method on the real data set and show how different the conclusions can be depending on the aggregation scheme used.
© 2011 Elsevier B.V. All rights reserved.
Keyword Growth accounting
Productivity
Aggregation
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ
Additional Notes Published under Interfaces with other Disciplines

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2012 Collection
School of Economics Publications
 
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Created: Wed, 18 May 2011, 14:34:43 EST by Alys Hohnen on behalf of School of Economics