Papers on
TFP/Income differences and trends
Pedro Cavalcanti
Ferreira, Samuel Pessôa and Fernando Veloso
Pedro Cavalcanti Ferreira, João Victor Issler and Samuel Pessoa
This paper
investigates the nature of income inequality across nations. Several exercises,
such as variance decompositions, simulations and counter-factual analyses are
performed. The picture that emerges is one where countries grew in the past for
different reasons, which should be an important ingredient in policy design.
Although there is not a single-factor explanation for the difference in output
per-worker across nations, productivity differences can explain a considerable
portion of income inequality, followed by distortions to\ capital accumulation
and then by human capital accumulation
Published
in the Revista de Analisis
Economico, Vol. 20, nº2, Dec. 2005
Pedro Cavalcanti Ferreira, Samuel Pessôa and Fernando Veloso
This
article presents a group of exercises of level and growth decomposition of
output per worker using cross-country data from 1960 to 2000. Its shown that at
least until 1975 factors of production ( capital and education) were the main
cause of output dispersion and that productivity variance was considerably
smaller than in late years. Only after this date the prominence of TFP started
to show up in the data, as the majority of the literature have found. The
growth decomposition exercises showed that the reversal of relative importance
of TFP vis-à-vis factors is explained by the very good (bad) performance of
detrended TFP of fast (slow) growing economies. Although growth in the period,
on average, is mostly due to factors accumulation, its variance is explained by
productivity.
Pedro Cavalcanti Ferreira, Samuel Pessôa and Fernando Veloso
Pedro Cavalcanti Ferreira, Roberto Ellery e Victor Gomes
Este artigo discute comportamento da Produtividade Total dos
Fatores (PTF) no Brasil entre 1970 e 1998. É feita uma análise de quanto da
queda da PTF pode ser explicada a partir de mudanças na forma tradicional de
cálculo desta variável. Entre as variações serão consideradas: utilização da capacidade
instalada, modificações no uso do capital, mensuração do capital por meio do
consumo de eletricidade, distorções no preço relativo, capital humano e
investimento específico à determinada tecnologia. O único caso onde a TFP
apresenta uma modificação em seu comportamento é o de correção de distorções no
preço relativo, onde a PTF se recupera mais rapidamente.