Abstract and Keywords
Chapter 17 first discusses how productivity growth typically has been measured in classical productivity studies. It then briefly discusses how innovation and catch-up can be distinguished empirically. Next it outlines methods that have been proposed to measure productivity growth and its two main factors, innovation and catch-up. The chapter shows how such methods have particular canonical representations that seamlessly transfer to the panel data literature and discuss a number of competing specifications introduced into the productivity literature. Such models can be combined to provide consensus model average estimates of innovation and catch-up, utilizing results from recent work by Hao (2012) on world productivity growth. The chapter ends with concluding remarks and suggestions for the direction of future analysis.
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