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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2009.1
- 수록면
- 151 - 195 (45page)
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In this paper, we present the Bayesian methods for total factor productivity (TFP) analysis of a multi-region economy with dynamic structure. Conventional approaches to the empirical analysis of regional economic growth are incapable of providing an appropriate description of the behavior of TFP. Accordingly, we introduce a set of Bayesian statistical models based on regional production functions. In our framework, TFP is regarded as a time-varying parameter, and is estimated using a Bayesian smoothness priors approach. Compared with conventional approaches, this application of a Bayesian method makes it possible to analyze the behavior of TFP in detail. In addition, we take into account the fact that elasticity of output with respect to factors of production may vary across regions, implying a structural heterogeneity among the regions. Further, the possibility of structural changes in regional economies is incorporated. As an empirical application, we present the results for an analysis of Japanese prefectural data.
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참고문헌 (18)
참고문헌 신청
/ 1995 / A Bayesian Method for the Dynamic Regression Anal-ysis / Transactions of the Institute of Systems, Control and Infor-mation Engineers : 8 ~ 16
Akaike, H / 1974 / A New Look at the Statistical Model Identi?cation : 716 ~ 723
Aschauer, D. A. / 1989 / Is Public Expenditure Productive? / Journal of Mon-etary Economics : 177 ~ 200
Barro, R. J / 2004 / Economic Growth, Second Edition / MIT Press: Cambridge
Barro, R. J. / 1999 / Notes on Growth Accounting / Journal of EconomicGrowth : 119 ~ 137
Akaike, H / 1974 / A New Look at the Statistical Model Identi?cation : 716 ~ 723
Aschauer, D. A. / 1989 / Is Public Expenditure Productive? / Journal of Mon-etary Economics : 177 ~ 200
Barro, R. J / 2004 / Economic Growth, Second Edition / MIT Press: Cambridge
Barro, R. J. / 1999 / Notes on Growth Accounting / Journal of EconomicGrowth : 119 ~ 137
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