On some relations between a continuous time Luenberger productivity indicator and the Solow model

Walter Briec; Laurence Sylviane Zenna Lasselle

doi:10.1111/boer.12305

On some relations between a continuous time Luenberger productivity indicator and the Solow model

Walter Briec, Laurence Sylviane Zenna Lasselle

Centre for Responsible Banking and Finance

Research output: Contribution to journal › Article › peer-review

Abstract

We introduce well-known microeconomics productivity measures in Solow models in discrete time or continuous time by adopting a Luenberger-type approach. In each framework, we derive the productivity indicators and the dynamical paths. Firstly, we show that the expression of the productivity indicators are similar to the well-known Solow residuals, allowing us to make ananalogy between a firm's behaviour in a microeconomic setting and a country's behaviour in a macroeconomic setting. Secondly, we demonstrate that the properties of the paths are similar in both frameworks

Original language	English
Journal	Bulletin of Economic Research
Volume	Early View
Early online date	23 Jul 2021
DOIs	https://doi.org/10.1111/boer.12305
Publication status	E-pub ahead of print - 23 Jul 2021

Keywords

Technical efficiency
Technological progress
Directional distance function
Proportional distance

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10.1111/boer.12305

Briec-2021-On-some-relations-between-BER-AAM
Copyright © 2021 Board of Trustees of the Bulletin of Economic Research and John Wiley & Sons Ltd. This work has been made available online in accordance with publisher policies or with permission. Permission for further reuse of this content should be sought from the publisher or the rights holder. This is the author created accepted manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://doi.org/10.1111/boer.12305
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Cite this

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AB - We introduce well-known microeconomics productivity measures in Solow models in discrete time or continuous time by adopting a Luenberger-type approach. In each framework, we derive the productivity indicators and the dynamical paths. Firstly, we show that the expression of the productivity indicators are similar to the well-known Solow residuals, allowing us to make ananalogy between a firm's behaviour in a microeconomic setting and a country's behaviour in a macroeconomic setting. Secondly, we demonstrate that the properties of the paths are similar in both frameworks

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KW - Technological progress

KW - Directional distance function

KW - Proportional distance

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On some relations between a continuous time Luenberger productivity indicator and the Solow model

Abstract

Keywords

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