期刊名称：Central European Journal of Economic Modelling and Econometrics
印刷版ISSN：2080-0886
电子版ISSN：2080-119X
出版年度：2014
期号：4
页码：193-216
语种：English
出版社：Polska Akademia Nauk
摘要：The paper discusses Bayesian productivity analysis of 27 EU Member States, USA, Japan and Switzerland. Bayesian Stochastic Frontier Analysis and a two- stage structural decomposition of output growth are used to trace sources of output growth. This allows us to separate the impacts of capital accumulation, labour growth, technical progress and technical efficiency change on economic development. Since estimates of the growth components are conditioned upon model parameterisation and the underlying assumptions, a number of possible specifications are considered. The best model for decomposing output growth is chosen based on the highest marginal data density, which is calculated using adjusted harmonic mean estimator.
