Productivity and the welfare of nations [electronic resource] / Susanto Basu [and others].

We show how to relate the welfare of a country's infinitely-lived representative consumer to observable aggregate data. To a first order, welfare is summarized by total factor productivity and by the capital stock per capita. These variables suffice to calculate welfare changes within a country...

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Bibliographic Details

Online Access:	Full Text (via Open Knowledge Repository)
Main Author:	Basu, Susanto
Corporate Author:	National Bureau of Economic Research
Format:	Electronic eBook
Language:	English
Published:	Cambridge, Mass. : National Bureau of Economic Research, ©2012.
Series:	Working paper series (National Bureau of Economic Research) ; no. 17971.
Subjects:	Welfare economics > Econometric models. Consumption (Economics) > Econometric models.