Total Factor Productivity

TL;DR: This paper developed an intertemporal framework for measuring capital in which consumer utility maximization governs the expenditures that are current consumption versus those that are capital investment, and applied this principle to newly developed estimates of business spending on intangibles.

TL;DR: This article developed an intertemporal framework for measuring capital in which consumer utility maximization governs the expenditures that are current consumption versus those that are capital investment, and applied this principle to newly developed estimates of business spending on intangibles.

TL;DR: The authors revisited the rationale of cohesion policy, with particular attention to the geographical dynamics of economic development, highlighting a complex set of potential trade-offs and interrelations, including overall growth and efficiency; inter-territorial equity; territorial democracy and governance capacities; and social equity within places.

TL;DR: The authors examined the role of structural change in explaining aggregate productivity growth in the manufacturing sector of four Asian countries over the period 1963-1993 and found that improvements in productivity levels were widespread and depended negatively on the distance from the global technology frontier, confirming the Gerschenkronian notion of catch-up.