A Bayesian Analysis of Total Factor Productivity Persistence

Tapas Mishra; Claude Diebolt; Mamata Parhi; Asit Ranjan Mohanty

A Bayesian Analysis of Total Factor Productivity Persistence

Tapas Mishra, Claude Diebolt, Mamata Parhi, Asit Ranjan Mohanty

Research output: Contribution to journal › Article

Abstract

Eine Bayesianische Analyse der Persistenz der Totalen Faktorproduktivitat. This paper studies persistence properties of total factor productivity (TFP) from Bayesian perspective. Emphasizing that classical unit root test for TFP cannot determine the probability whether a stochastic shock to the series is permanent, we design a Bayesian unit root test for TFP. Examination for a set of African economies' TFP data show that the probability of having a unit root is very high for majority of countries. The evidence of high-persistence has implications for perpetual growth and business cycles.

Original language	English
Pages (from-to)	363-372
Journal	HISTORICAL SOCIAL RESEARCH-HISTORISCHE SOZIALFORSCHUNG
Volume	35
Issue number	1
Publication status	Published - 2010

Cite this

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title = "A Bayesian Analysis of Total Factor Productivity Persistence",

abstract = "Eine Bayesianische Analyse der Persistenz der Totalen Faktorproduktivitat. This paper studies persistence properties of total factor productivity (TFP) from Bayesian perspective. Emphasizing that classical unit root test for TFP cannot determine the probability whether a stochastic shock to the series is permanent, we design a Bayesian unit root test for TFP. Examination for a set of African economies' TFP data show that the probability of having a unit root is very high for majority of countries. The evidence of high-persistence has implications for perpetual growth and business cycles.",

author = "Tapas Mishra and Claude Diebolt and Mamata Parhi and Mohanty, {Asit Ranjan}",

year = "2010",

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AU - Mishra, Tapas

AU - Diebolt, Claude

AU - Parhi, Mamata

AU - Mohanty, Asit Ranjan

PY - 2010

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N2 - Eine Bayesianische Analyse der Persistenz der Totalen Faktorproduktivitat. This paper studies persistence properties of total factor productivity (TFP) from Bayesian perspective. Emphasizing that classical unit root test for TFP cannot determine the probability whether a stochastic shock to the series is permanent, we design a Bayesian unit root test for TFP. Examination for a set of African economies' TFP data show that the probability of having a unit root is very high for majority of countries. The evidence of high-persistence has implications for perpetual growth and business cycles.

AB - Eine Bayesianische Analyse der Persistenz der Totalen Faktorproduktivitat. This paper studies persistence properties of total factor productivity (TFP) from Bayesian perspective. Emphasizing that classical unit root test for TFP cannot determine the probability whether a stochastic shock to the series is permanent, we design a Bayesian unit root test for TFP. Examination for a set of African economies' TFP data show that the probability of having a unit root is very high for majority of countries. The evidence of high-persistence has implications for perpetual growth and business cycles.

M3 - Article

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JO - HISTORICAL SOCIAL RESEARCH-HISTORISCHE SOZIALFORSCHUNG

JF - HISTORICAL SOCIAL RESEARCH-HISTORISCHE SOZIALFORSCHUNG

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