【主讲】施浩 助教授 (上海交通大学 安泰经济管学院)
【主题】Unanticipated Productivity Shock, Factor Misallocation and TFP Loss
【时间】2012年11月26日 (周一) 15：30-17：00
【地点】上海财经大学经济学院楼710室
【语言】英文
【摘要】This study re-examines the impacts of factor misallocation due to market distortions on aggregate TFP in the context of a monopolistic competition model where each firm faces an unanticipated productivity shock in its value-added production. We show that, in previous studies where this shock is not taken into consideration, it has simply been encompassed as part of market distortions, which in turn biases up the measured aggregate TFP loss. Our quantitative results show that the aggregate TFP loss in Chinese manufacturing sector would have been exaggerated by around 60 percent when the productivity shock is not considered. Moreover, we show that the measured cross-country differences in aggregate TFP loss and the relative importance of various sources that cause such differences could also be biased when the productivity shock is not considered.
