Since 2014
Development Accounting, the Elasticity of Substitution, and Non-neutral Technological Change
Revista Brasileira de Economia
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| Title |
Development Accounting, the Elasticity of Substitution, and Non-neutral Technological Change
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| Creator |
Mello, Marcelo de Albuquerque e; Faculdades Ibmec/RJ UERJ Rodrigues, André de Souza |
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| Subject |
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| Description |
We construct a broad panel with 84 countries over the period 1970-2014 with data from the Penn World Tables (PWT) 9.0. We apply the tools of development accounting to our panel. However, we depart from the traditional Cobb-Douglas hypothesis and Hicks-neutral technological change, and assume a Constant Elasticity of Substitution production function, which allows for a constant but non-unitary elasticity of substitution, and for non-neutral technological change. For different values of the elasticity of substitution, and different representation of technological change, we find that the cross-country variation in GDP per worker that can be accounted for by factor inputs is decreasing over time until the mid-2000s, when it reverses its decreasing trend. In addition, our estimates suggests that in the more recent period the proportion of the cross-country variation in GDP per worker explained by factor inputs is around 20%. Finally, we obtain similar results with broad panels from PWT versions 8.1 and 7.0, corroborating our initial findings.
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| Publisher |
Escola de Pós-Graduação em Economia da FGV
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| Contributor |
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| Date |
2017-05-18
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Articles Artigos |
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| Format |
application/pdf
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| Identifier |
http://bibliotecadigital.fgv.br/ojs/index.php/rbe/article/view/64336
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| Source |
Revista Brasileira de Economia; v. 71, n. 1 (2017): JAN-MAR; 93-109
Revista Brasileira de Economia; v. 71, n. 1 (2017): JAN-MAR; 93-109 0034-7140 0034-7140 |
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| Language |
eng
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| Relation |
http://bibliotecadigital.fgv.br/ojs/index.php/rbe/article/view/64336/67268
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| Rights |
Direitos autorais 2017 Revista Brasileira de Economia
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