MULTILATERAL TFP INDEX AND MULTILATERAL SIMILARITY OF TECHNOLOGY

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概要

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• The Toernqvist spatial TFP index presupposes spatial equality of the second order parameters of translog cost/production functions. In this paper I tested equality between Germany, Japan, and the U.S. of the second order parameters of a KLM translog cost function for disaggregated industry sectors. The equality hypothesis was rejected, implying that the Toernqvist TFP index would be biased due to its neglect of the term involving the second order parameters. Still, the extent of biases was found to be quantitatively small. In particular, the biases did not cause any change in the trend pattern of TFP development of the three countries.

• 慶應義塾大学の論文

著者

• Nakamura Shinichiro

  Waseda University

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