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User profiles for author:"Susanto Basu"

Susanto Basu

Professor of Economics, Boston College and NBER
Verified email at bc.edu
Cited by 5149

Returns to scale in US production: Estimates and implications

[PDF] from queensu.ca
Full text - MIT Libraries
S Basu… - Journal of political economy, 1997 - JSTOR
A typical (roughly) two-digit industry in the United States appears to have constant or slightly
decreasing returns to scale. Three puzzles emerge, however. First, estimates often rise at
higher levels of aggregation. Second, apparent decreasing returns contradicts evidence of ...
Cited by 952 - Related articles - Library Search - BL Direct - All 16 versions

Are technology improvements contractionary?

[PDF] from ucsc.edu
S Basu, J Fernald… - 2004 - nber.org
Yes. We construct a measure of aggregate technology change, controlling for varying
utilization of capital and labor, non-constant returns and imperfect competition, and
aggregation effects. On impact, when technology improves, input use and non-residential ...
Cited by 526 - Related articles - Library Search - BL Direct - All 33 versions

Procyclical productivity: increasing returns or cyclical utilization?

[PDF] from oxfordjournals.org
Full text - MIT Libraries
S Basu - The Quarterly Journal of Economics, 1996 - qje.oxfordjournals.org
Abstract This paper investigates the relative importance of cyclical fluctuations in labor and
capital utilization, increasing returns to scale, and technology shocks as explanations for
procyclical productivity. It exploits the intuition that materials inputs do not have variable ...
Cited by 480 - Related articles - Library Search - BL Direct - All 15 versions

Appropriate technology and growth

[PDF] from oxfordjournals.org
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S Basu… - The Quarterly Journal of Economics, 1998 - qje.oxfordjournals.org
Abstract We model growth and technology transfer in a world where technologies are
specific to particular combinations of inputs. Unlike the usual specification, our model does
not imply that an improvement in one technique for producing a given good improves all ...
Cited by 442 - Related articles - BL Direct - All 19 versions

Are apparent productive spillovers a figment of specification error?

[PDF] from federalreserve.gov
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S Basu… - Journal of Monetary Economics, 1995 - Elsevier
Using data on gross output for two-digit manufacturing industries, we find that an increase in
the output of one manufacturing sector has little or no significant effect on the productivity of
other sectors. Using value-added data, however, we confirm the results of previous ...
Cited by 340 - Related articles - Library Search - BL Direct - All 14 versions

Cyclical productivity with unobserved input variation

[PDF] from umich.edu
S Basu… - 1997 - nber.org
In this paper, we derive and estimate relationships governing variable utilization of capital
and labor for a firm solving a dynamic cost-minimization problem. Our method allows for (i)
imperfect competition,(ii) increasing returns to scale,(iii) unobserved changes in utilization, ...
Cited by 321 - Related articles - Library Search - BL Direct - All 10 versions

Intermediate goods and business cycles: Implications for productivity and welfare

[PDF] from northwestern.edu
S Basu - 1994 - nber.org
This paper presents an aggregate demand-driven model of business cycles that provides a
new explanation for the procyclicality of productivity, and simultaneously predicts large
welfare losses from monetary non-neutrality. The key features of the model are an input- ...
Cited by 257 - Related articles - Library Search - BL Direct - All 14 versions

[PDF] The case of the missing productivity growth, or does information technology explain why productivity accelerated in the United States but not in the United …

[PDF] from nber.org
S Basu, JG Fernald… - 2004 - nber.org
After the mid-1990s, labor and total factor productivity (TFP) accelerated in the United States
but not in most other major economies. A growing body of research has explored the
robustness of the US acceleration, generally concluding that the acceleration reflects an ...
Cited by 255 - Related articles - View as HTML - Library Search - BL Direct - All 49 versions

Productivity growth in the 1990s: technology, utilization, or adjustment?

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S Basu, JG Fernald… - Carnegie-Rochester conference series …, 2001 - Elsevier
Measured productivity growth increased substantially during the second half of the 1990s.
This paper examines whether this increase owes to an increase in the rate of technological
change or whether it can be explained by non-technological factors relating to factor ...
Cited by 221 - Related articles - Library Search - BL Direct - All 29 versions

Business cycles in international historical perspective

[PDF] from utoronto.ca
S Basu… - 1999 - nber.org
This paper examines business cycles theoretically and empirically, with a quantitative study
based on experience over the long run and in a cross section of countries. Several major
questions in business cycle theory are explored. Theoretical concerns indicate that the ...
Cited by 219 - Related articles - Library Search - BL Direct - All 19 versions

Aggregate productivity and aggregate technology

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S Basu… - European Economic Review, 2002 - Elsevier
Aggregate productivity and aggregate technology are meaningful but distinct concepts. We
show that a slightly modified Solow productivity residual measures changes in economic
welfare, even when productivity and technology differ because of distortions such as ...
Cited by 174 - Related articles - BL Direct - All 19 versions

[PDF] Why is productivity procyclical? Why do we care?

[PDF] from nber.org
S Basu… - 2001 - nber.org
Productivity is procyclical. That is, whether measured as labor productivity or total factor
productivity, productivity rises in booms and falls in recessions. Recent macroeconomic
literature views this stylized fact of procyclical productivity as an essential feature of ...
Cited by 169 - Related articles - View as HTML - Library Search - BL Direct - All 23 versions

[BOOK] Constant returns and small markups in US manufacturing

[PDF] from federalreserve.gov
S Basu, JG Fernald… - 1994 - federalreserve.gov
ABSTRACT We estimate that returns to scale are close to constant in two-digit gross output
data. Value-added data appear instead to give significant increasing returns. We show why,
with imperfect competition, valueadded estimates are in general meaningless. We use ...
Cited by 110 - Related articles - Get it from MIT Libraries - Library Search - All 8 versions

[PDF] Long-run labor supply and the elasticity of intertemporal substitution for consumption

[PDF] from cepr.org
S Basu… - manuscript, University of Michigan, 2002 - cepr.org
Abstract: The fact that permanent increases in the real wage have very little effect on labor
supply implies a parameter restriction in the consumption Euler equation augmented by
predictable movements in the quantity of labor. This parameter restriction is not rejected ...
Cited by 101 - Related articles - View as HTML - All 13 versions

Aggregate productivity and the productivity of aggregates

S Basu… - 1995 - nber.org
Explanations of procyclical productivity play a key role in a variety of business-cycle models.
Most of these models, however, explain this procyclicality within a representative-firm
paradigm. This procedure is misleading. We decompose aggregate productivity changes ...
Cited by 83 - Related articles - Library Search - BL Direct - All 10 versions

Information and Communications Technology as a General‐Purpose Technology: Evidence from US Industry Data

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S Basu… - German Economic Review, 2007 - Wiley Online Library
Abstract. Many people point to information and communications technology (ICT) as the key
for understanding the acceleration in productivity in the United States since the mid-1990s.
Stories of ICT as a 'general-purpose technology'suggest that measured total factor ...
Cited by 68 - Related articles - BL Direct - All 15 versions

[PDF] A general-equilibrium asset-pricing approach to the measurement of nominal and real bank output

[PDF] from nber.org
JC Wang, S Basu… - 2009 - nber.org
Abstract: This paper addresses the proper measurement of financial service output that is
not priced explicitly. It shows how to impute nominal service output from financial
intermediaries' interest income, and how to construct price indices for those financial ...
Cited by 49 - Related articles - View as HTML - Library Search - All 24 versions

[PDF] Technology and Business Cycles: How well do Standard Models explain the facts?

[PDF] from bostonfed.org
S Basu - Conference series-Federal Reserve Bank of Boston, 1998 - bostonfed.org
How well do current business-cycle models explain historical output fluctuations? Almost a
decade has passed since Plosser (1989) claimed that a simple real-business-cycle (RBC)
model could generate simulated output with a correlation of 0.87 with actual output over ...
Cited by 42 - Related articles - View as HTML - BL Direct - All 15 versions

[PDF] Investment planning costs and the effects of fiscal and monetary policy

[PDF] from upenn.edu
S Basu… - Unpublished manuscript, 2003 - finance.wharton.upenn.edu
Abstract We show that simple “New Keynesian” models with capital but without investment
frictions have counterfactual predictions regarding the short-run effects of fiscal policy
shocks: fiscal expansions lower output, employment, and the real interest rate in these ...
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The value of risk: measuring the service output of US commercial banks

[PDF] from rug.nl
Full text - MIT Libraries
S Basu, R Inklaar… - Economic Inquiry, 2011 - Wiley Online Library
Banks often charge implicitly for their services via interest spreads, instead of explicit fees.
Much of bank output thus has to be estimated indirectly. In contrast to current statistical
practice, dynamic optimizing models of banks argue that compensation for bearing ...
Cited by 37 - Related articles - Library Search - All 35 versions

Some evidence on the importance of sticky wages

[PDF] from csic.es
A Barattieri, S Basu… - 2010 - nber.org
Nominal wage stickiness is an important component of recent medium-scale structural
macroeconomic models, but to date there has been little microeconomic evidence
supporting the assumption of sluggish nominal wage adjustment. We present evidence on ...
Cited by 24 - Related articles - Library Search - All 52 versions

[BOOK] Why is productivity procyclical?: why do we care?

[PDF] from federalreserve.gov
JG Fernald, S Basu… - 1999 - c.federalreserve.gov
Abstract: Productivity rises in booms and falls in recessions. There are four main
explanations for procyclical productivity:(i) procyclical technology shocks,(ii) widespread
imperfect competition and increasing returns,(iii) variable utilization of inputs over the ...
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[PDF] What do we know (and not know) about potential output?

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S Basu… - Federal Reserve Bank of St. Louis …, 2009 - c.research.stlouisfed.org
Potential output is an important concept in economics. Policymakers often use a one-sector
neoclassical model to think about long-run growth, and they often assume that potential
output is a smooth series in the short run—approximated by a medium-or long-run ...
Cited by 18 - Related articles - View as HTML - All 29 versions

Risk bearing, implicit financial services and specialization in the financial industry

[PDF] from bcrp.gob.pe
JC Wang… - 2008 - nber.org
This paper makes three points regarding the proper measurement of the output of financial
intermediaries. Two of them concern the measurement of nominal financial output,
especially banking output. First, we show that, to impute the nominal value of implicitly ...
Cited by 17 - Related articles - Library Search - All 18 versions

[CITATION] Procyclical productivity: Overhead inputs or cyclical utilization

S Basu - Working Papers, 1993 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks.
Procyclical Productivity: Overhead Inputs or Cyclical Utilization. Susanto Basu (). Working
Papers from Michigan - Center for Research on Economic & Social Theory. ...
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[BOOK] The Case of the Missing Productivty Growth: Or, Does Information Technology Explain why Productivity Accelerated in the US but not the UK?

S Basu, J Fernald, N Oulton, S Srinivasan… - 2003 - en.scientificcommons.org
Abstract We argue that unmeasured investments in intangible organizational capital
associated with the role of information and communications technology (ICT) as a general
purpose technology'can explain the divergent US and UK TFP performance after 1995. ...
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[PDF] Technological Progress,'Money'in the Utility Function, and the 'User Cost of Money.'

[PDF] from nber.org
S Basu… - 2006 - nber.org
Abstract: Financial institutions provide their customers a variety of unpriced services and
cover their costs through interest margins—the interest rates they receive on assets are
generally higher than the rates they pay on liabilities. In particular, banks pay below-public ...
Cited by 15 - Related articles - View as HTML - All 4 versions

Productivity, welfare and reallocation: Theory and firm-level evidence

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S Basu, L Pascali, F Schiantarelli… - 2009 - nber.org
We prove that in a closed economy without distortionary taxation, the welfare of a
representative consumer is summarized to a first order by the current and expected future
values of the Solow productivity residual in level and by the initial endowment of capital. ...
Cited by 18 - Related articles - Library Search - All 35 versions

[PDF] Sector-specific technical change

[PDF] from nber.org
S Basu, J Fernald, J Fisher… - Manuscript. Chestnut Hill: Boston …, 2005 - nber.org
Abstract: We provide a unified framework that links recent (and more traditional) literature on
growth accounting with recent literature on the importance of shocks to the economy's ability
to produce different final goods. Recent macroeconomic literature has used relative prices ...
Cited by 15 - Related articles - View as HTML - All 65 versions

[CITATION] rAre Technology Improvements Contractionary? s

S Basu, J Fernald… - Discussion Papers, 1998
Cited by 14 - Related articles

Corruption and Reform

[PDF] from 141.213.232.243
S Basu… - 1996 - 141.213.232.243
Countries making the transition to a market economy often experience an increase in
corruption along with an increase in growth. This observation is puzzling in the context of
current models, which emphasize the destructive nature of corruption. We present a model ...
Cited by 13 - Related articles - All 12 versions

[CITATION] e Weil, DN (1998),“

S Basu - … Technology and Growth”, Quarterly Journal of …
Cited by 12 - Related articles

[CITATION] Comment on:" Implications of state-dependent pricing for dynamic macroeconomic modeling"

Full text - MIT Libraries
S Basu - Journal of Monetary Economics, 2005 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to
view it first. In case of further problems read the IDEAS help page. Note that these files are
not on the IDEAS site. Please be patient as the files may be large.
Cited by 13 - Related articles - Cached - All 5 versions

[Capital Utilization and Returns to Scale]: Comment

Full text - MIT Libraries
S Basu - NBER Macroeconomics Annual, 1995 - JSTOR
This paper sets itself an ambitious task: it attempts to explain a fundamental stylized fact of
modern macroeconomics-the procyclicality of the Solow residual-using an empirical model
that nests the three main explanations for this fact: technology shocks, increasing returns ...
Cited by 11 - Related articles

[PDF] Uncertainty Shocks in a Model of Effective Demand

[PDF] from nber.org
S Basu… - Boston College Working Papers in Economics, 2011 - nber.org
Abstract This paper examines the role of uncertainty shocks in a one-sector, representative-
agent dynamic stochastic general-equilibrium model. When prices are flexible, uncertainty
shocks are not capable of producing business-cycle comovements among key macro ...
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[CITATION] Understanding how price responds to costs and production: A comment

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S Basu - Carnegie-Rochester Conference Series on Public …, 2000 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks.
Understanding how price responds to costs and production: A comment. Susanto Basu ().
Carnegie-Rochester Conference Series on Public Policy, 2000, vol. 52, issue 1, pages 79-85. ...
Cited by 8 - Related articles - Cached - All 6 versions

[CITATION] Productivity growth in the 1990s: technology, utilization

S Basu, JG Fernald… - 2000 - or adjustment
Cited by 6 - Related articles

[CITATION] Why is productivity procyclical?

S Basu… - 2000
Cited by 6 - Related articles

[CITATION] Technology, Utilization, or Adjustment? Productivity Growth in the 1990s

S Basu, JG Fernald… - NBER working paper, 2001
Cited by 5 - Related articles

[CITATION] Aggregate production function failures

S Basu, JG Fernald… - Manuscript, 1996
Cited by 5 - Related articles

[CITATION] mProcyclical Productivity: Overhead Inputs or Cyclical Utilization? n, The University of Michigan

S Basu - 1993 - mimeo
Cited by 5 - Related articles

[CITATION] Why is Productivity Procyclical

JG Fernald… - Why do we Care, 1999
Cited by 4 - Related articles

[CITATION] Are Technology Improvements Contractionary

B Susanto, JG Fernald… - 1999 - Manuscript
Cited by 4 - Related articles

[CITATION] Intermediate Goods, Menu Costs, and Business Cycles

S Basu - 1992 - mimeo
Cited by 3 - Related articles

[CITATION] VWhy Is Productivity Procyclical? Why Do We Care? xIn New Directions in Productivity Analysis, edited by Edwin Dean, Michael Harper and Charles …

S Basu… - Studies in Income and Wealth, 2001
Cited by 3 - Related articles

[CITATION] Discussion of 'Technology in Growth Theory'

S Basu - Technology and Growth. Federal Reserve Bank of …, 1996
Cited by 3 - Related articles

[CITATION] The Value of Risk: Measuring the Services ofCommercial Banks

S Basu, R Inklaar… - Federal Reserve Bank of Boston Working Paper, 2008
Cited by 3 - Related articles

[CITATION] Why Is Productivity Procyclical? Why Do We Care?''NBER Working Paper 7940

S Basu… - 2001
Cited by 3 - Related articles

[CITATION] The case of the missing productivity growth: or, does information technology explain why productivity accelerated in the United States but not the United …

S Basu, J Fernald, N Oulton… - 2003 - en.scientificcommons.org
Cited by 3 - Related articles - Cached

[CITATION] Are Apparent Productive Spillovers a Figment of Specification Error

S Basu… - Papers, 1993 - ideas.repec.org
No abstract is available for this item. ... To our knowledge, this item is not available for
download. To find whether it is available, there are three options: 1. Check below under "Related
research" whether another version of this item is available online. 2. Check on the ...
Cited by 4 - Related articles - Cached - Get it from MIT Libraries - Library Search - All 3 versions

Optimal advice for monetary policy

S Basu, MS Kimball, NG Mankiw… - 1990 - nber.org
ABSTRACT This paper addresses the issue of how to give optimal advice about monetary
policy when it is known that the advice may not be heeded. We examine a simple
macroeconomic model in which monetary policy has the ability to stabilize output by ...
Cited by 3 - Related articles - Library Search - All 14 versions

[CITATION] The case of the missing productivity growth: or: Why has productivity accelerated in the United States but not in the United Kingdom?

S Basu, JG Fernald, N Oulton… - NBER Macroeconomics Annual, 2003
Cited by 3 - Related articles - Get it from MIT Libraries - All 2 versions

[CITATION] ICT as a general-purpose technology: Evidence from US industry data

S Basu… - Conference on The Determinants of Productivity …, 2006
Cited by 3 - Related articles

Asset pricing in dynamic stochastic general equilibrium models with indeterminacy

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Full text - MIT Libraries
N Gershun, SG Harrison, F Avalos… - Macroeconomic …, 2008 - Cambridge Univ Press
We explore asset pricing in the context of the one-sector Benhabib-Farmer-Guo (BFG)
model with increasing returns to scale in production and compare our results with financial
implications of the standard dynamic stochastic general equilibrium (DSGE) model. Our ...
Cited by 2 - Related articles - BL Direct - All 13 versions

[CITATION] Constant Returns and Small Markups in the US Manufacturing. International Finance Discussion Paper 483, Board of Governors of the Federal Reserve …

S Basu… - 1994
Cited by 2 - Related articles

[CITATION] Sectoral Technical Change

S Basu, J Fernald, JDM Fisher… - work in progress presented at, 2004
Cited by 2 - Related articles

[CITATION] Returns to Scale in US Production: Estimates and Implications," forthcoming in Journal of Political Economy

S Basu… - 1997
Cited by 2 - Related articles

[CITATION] 0Investment Planning Costs and the Effects of Monetary and Fiscal Policy, 1 University of Michigan

S Basu… - 2003 - mimeo
Cited by 2 - Related articles

[CITATION] oTechnology and Business Cycles: How Well Do Standard Models Explain The Facts? pin VBeyond Shocks: What Causes Business Cycles

S Basu - V Conferences Series, 1998
Cited by 2 - Related articles

[CITATION] Srinivasan Sylaja (2004).“The Case of the Missing Productivity Growth, or Does Information Technology Explain Why Productivity Accelerated in the …

S Basu, JG Fernald… - NBER Macroeconomics Annual, 2003
Cited by 2 - Related articles - Get it from MIT Libraries

[CITATION] Technology and Business Cycles: How Well Do Standard Models Explain the Facts?

B Susanto - Beyond Shocks: What Causes Business Cycles, 1998
Cited by 2 - Related articles

[CITATION] John. G. Fernald, and Miles Kimball (1999).“Are Technology Improvements Contractionary?”

S Basu - International Finance Discussion Paper
Cited by 2 - Related articles

[CITATION] mankiw Gregory N, and Weil David N

B Susanto… - Optimal Advide for Monetary Policy, JMCB, 1990
Cited by 2 - Related articles

[CITATION] oAre Technology Im% provements Contractionary? pInternational Finance Discussion Papers No 625

S Basu, J Fernald… - Board of Governors of the Federal Reserve System, 1998
Cited by 2 - Related articles

[CITATION] Are Productivity Improvements Contractionary?

S Basu, JG Fernald… - University of Michigan, 1998
Cited by 2 - Related articles

[CITATION] Productive Externalities in US Manufacturing: Do They Exist and Are They Important?'

S Basu… - Harvard University, Cambridge, MA, 1992
Cited by 2 - Related articles

[CITATION] Corruption and Reform

S Basu… - 1997
Cited by 2 - Related articles

[CITATION] Sylaja Srinivasan (2003)." The Case of the Missing Productivty Growth: Or, Does Information Technology Explain why Productivity Accelerated in the US …

S Basu, JG Fernald… - NBER Working paper
Cited by 2 - Related articles

[PDF] ICT and Total Factor Productivity Growth: Intangible Capital or Productive Externalities?

[PDF] from oecd.org
RC Acharya… - 2nd ICTNET Workshop, London, 2011 - community.oecd.org
Abstract What accounts for the exceptional TFP growth performance in some ICT-using
industries after the mid-1990s in the US and to some extent some in other OECD countries?
Most commentators have pointed to enormous productivity gains in the production of ...
Cited by 1 - Related articles - View as HTML - All 3 versions

[CITATION] Frontiers of business cycle research

Full text - MIT Libraries
TF Cooley, S Basu - Journal of …, 1996 - Nashville [etc.]: American Economic …
Cited by 1 - Related articles

New Evidence on Durable Goods Biased Technological Change

S Basu… - 2005 Meeting Papers, 2005 - ideas.repec.org
We describe new evidence that technological change is biased toward producing durables
goods. Existing evidence in favor of the importance of change to growth and business cycles
is based on the price deflators for investment and consumption goods. Our evidence is ...
Cached - All 4 versions

[CITATION] NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

S BASU… - 1998
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The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Aggregate Productivity and Aggregate Technology

S Basu… - c.federalreserve.gov
Abstract: Aggregate productivity and aggregate technology are meaningful but distinct
concepts. We show that a slightly-modified Solow productivity residual measures changes in
economic welfare, even when productivity and technology differ because of distortions ...
Cached - All 4 versions

Productivity and the Welfare of Nations

[PDF] from iza.org
S Basu, L Pascali, F Schiantarelli… - 2012 - nber.org
ABSTRACT 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 ...

CONTRIBUTORS AND CONFERENCE PARTICIPANTS

LA Adams, K Bagwell, RE Baldwin… - New directions in …, 1995 - books.google.com
CONTRIBUTORS AND CONFERENCE PARTICIPANTS Laurel A. Adams Northwestern University
Kyle Bagwell Northwestern University Robert E. Baldwin University of Wisconsin Robert Barsky
University of Michigan Susanto Basu University of Michigan Jeffrey H. Bergstrand ...
All 2 versions

The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Returns to Scale in US Production: Estimates and …

S Basu… - federalreserve.gov
Abstract: A typical (roughly) two-digit industry in the United States appears to have constant
or slightly decreasing returns to scale. Three puzzles emerge, however. First, estimates tend
to rise at higher levels of aggregation. Second, estimates of decreasing returns in many ...
Cached - All 2 versions

[CITATION] Price Index Concepts and Measurement: Comment on

S Basu - 2011 - papers.ssrn.com
In this chapter, Fixler takes on a very important and very challenging task—thinking hard
about the measure of nominal financial sector output, and decomposing that output into a
price index and a volume index. This is a long-standing problem in the economics of ...
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[PDF] labor costs and, 450–451 natural rate hypothesis and, 84 output gap and, 451–453 rational expectations and, 282, 453–454

[PDF] from cenet.org.cn
LJ Álvarez, A Ang, G Ascari, A Atkeson… - … Inflation and the … - down.cenet.org.cn
Mac′ kowiak, Bartosz behavioral analysis and, 261 historical perspective on Phillips curve
and, 25, 48–51, 55 King comments on, 333–348 microeconomic price data implications and,
291–332 Midrigan comments on, 351–357 Mankiw, N. Gregory, xiii, 207, 384 historical ...
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[PDF] Productivity, Welfare and Reallocation: Theory and Firm Evidence

[PDF] from unibocconi.it
S Basu, L Pascali&… - 2009 - agenda.unibocconi.it
Abstract We prove that the change in welfare of a representative consumer is summarized
by the current and expected future values of the standard Solow productivity residual. The
equivalence holds if the representative household maximizes utility while taking prices ...
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[PDF] ICT AND TOTAL FACTOR PRODUCTIVITY GROWTH: INTANGIBLE CAPITAL OR PRODUCTIVE EXTERNALITIES?

[PDF] from publications.gc.ca
S Basu - publications.gc.ca
Abstract What accounts for the exceptional TFP growth performance of the US and to some
extent some of the other OECD countries after the mid-1990s? Most commentators have
pointed to enormous productivity gains in the production of Information and ...
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[CITATION] 1994 by Susanto Basu. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that …

S Basu - Ann Arbor, 1994
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[CITATION] Business Cycles in International Historical Perspective (Digest Summary)

S Basu… - CFA Digest, 2000 - CFA Institute

[PDF] Federal Reserve Bank of Chicago WP 2003-08

[PDF] from psu.edu
S Basu, JG Fernald, N Oulton… - 2003 - Citeseer
Abstract Solow's paradox has disappeared in the United States but remains alive and well in
the United Kingdom. In particular, the UK experienced an information and communications
technology (ICT) investment boom in the 1990s in parallel with the US, but measured total ...
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Before doing so, however, I want to shift the discussion from labor pro-ductivity, which is the focus of DeLong's paper, to technical change (which, under standard …

S BASU - NBER Macroeconomics Annual 2002, 2003 - books.google.com
146. BASU impulses and propagation mechanisms, and gives the somewhat misleading
impression that we understand the sources of productivity growth better than we actually do.
DeLong's paper actually takes the rate of technical change and its recent acceleration as ...
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[PDF] Productivity and the Welfare of Countries

[PDF] from upf.edu
S Basu, L Pascali, F Schiantarelli… - 2011 - econ.upf.edu
Abstract We prove that in a closed economy without distortionary taxation, the welfare of a
representative consumer is summarized to a first order by the current and expected future
values of the log level Solow productivity residual and by the initial endowment of capital. ...
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[PDF] UNBUNDLING CANADA'S WEAK PRODUCTIVITY PERFORMANCE: A REVIEW OF THE ISSUES

[PDF] from publications.gc.ca
S Basu - publications.gc.ca
Abstract Canada is one of the few OECD countries to trail the United States in both the level
and growth rate of productivity over a long period of time (1980-2005). This paper suggests
a method for breaking down this productivity gap into three components: differences in ...
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Productivity, Welfare And Reallocation

L Pascali, F Schiantarelli, L Serven… - Research Working …, 2010 - ingentaconnect.com
Abstract: A considerable literature has focused on the determinants of total factor productivity
(TFP), prompted by the empirical finding that TFP accounts for the bulk of long-term growth.
This paper offers a deeper reason for such focus: the welfare of a representative ...
All 2 versions

[CITATION] Board of Trustees, Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds, 99, 100

L Boone, AJ Auerbauch, M Bailey… - … of fiscal policy, 2006 - The MIT Press
All 2 versions

The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Constant Returns and Small Markups in US …

S Basu… - federalreserve.gov
Abstract: We estimate that returns to scale are close to constant in two-digit gross output
data. Value-added data appear instead to give significant increasing returns. We show why,
with imperfect competition, value-added estimates are in general meaningless. We use ...
Cached - All 2 versions

The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Are Apparent Productive Spillovers a Figment of …

S Basu… - federalreserve.gov
Abstract: Using data on gross output for two-digit manufacturing industries, we find that an
increase in the output of one manufacturing sector has little or no significant effect on the
productivity of other sectors. Using value-added data, however, we confirm the results of ...
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[PDF] NOTE: International Finance Discussion Papers are preliminary materials circulated to stimulate discussion and critical comment. References in publications to …

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S Basu… - 1995 - federalreserve.gov
Abstract Explanations of procyclical productivity play a key role in a variety of business-cycle
models. Most of these models, however, explain this procyclicality within a representative-
firm paradigm. This procedure is misleading. We decompose aggregate productivity ...
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[CITATION] Understanding how price responds to costs and production

S Basu - Carnegie-Rochester Conference Series on Public …, 2004 - Elsevier Science
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[Productivity Growth in the 2000s]: Comment

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S Basu - NBER Macroeconomics Annual, 2002 - JSTOR
Economists are not particularly good at understanding large, one-time structural changes.
We are not notably successful at working in real time. And despite much effort, especially
over the past 20 years, we still have no generally accepted understanding of the ...
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[CITATION] Austria, Myrna, 146 Avila, John Lawrence, 146 Aw, Bee Yan, 198n21, 310n6, 312, 312n9, 313n10, 314 Baily, Martin Neil, 198, 199, 247n13, 310n6

JR Baldwin, P Barnes… - … in East Asia, 2004 - University Of Chicago Press

[PDF] Technological Leadership and Endogenous Growth

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S Basu, J Feyrer… - dartmouth.edu
Abstract This paper investigates the interaction between technological leadership and
spillovers through a theoretical model where technological followers benefit from spillovers
from a technological leader. Simulations of the model show that technological leadership ...
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[CITATION] Money, macroeconomics, and economic policy, ed. by William C. Brainard..: Cambridge[ua], MIT Press, 1991

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S Basu - Journal of economic literature, 1993

[CITATION] Price Index Concepts and Measurement: A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output

JC Wang, S Basu… - 2011 - papers.ssrn.com
In many service industries, measuring real output is a challenge, because it is difficult to
measure quality-adjusted prices. In financial services, however, there is not even an agreed
upon conceptual basis for measuring nominal, let alone real, output. 1 This chapter ...
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The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Are Technology Improvements Contractionary?

S Basu, JG Fernald… - federalreserve.gov
Abstract: Yes. We construct a measure of aggregate technology change, controlling for
imperfect competition, varying utilization of capital and labor, and aggregation effects. On
impact, when technology improves, input use falls sharply, and output may fall slightly. ...
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[CITATION] UNIVERSITY OF MICHIGAN AND NBER/FEDERAL RESERVE

S Basu, IG Fernald, N Oulton… - The economics of …, 2009 - Edward Elgar Pub
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E40-279 Massachusetts Institute of Technology 77 Massachusetts Avenue Cambridge, MA 02139

MN Baily, VE Ball, S Basu, ER Dean, WE Diewert… - Ann Arbor - nber.org
... V. Eldon Ball Economic Research Service US Department of Agriculture 1800 M Street,
NW Suite 3 Washington, DC 20036-5831 Susanto Basu Department of Economics
University of Michigan 611 Tappan Street Ann Arbor, MI 48109-1220 ...
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