Paasche vs. Laspeyres: The Elasticity of Substitution and Bias in Measures of TFP Growth
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In recent papers, Nelson and Pack (1995), Rodrik (1997), and Hsieh (1997a) argue that standard measures of total factor productivity growth in countries where the capital-labour ratio has risen rapidly, e.g. the East Asian NICS, will understate true productivity growth if the elasticity of
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美国国家经济研究局创建时间：
1998-07-01
