Bayesian Methods for TFP Analysis of a Multi-Region Economy with Dynamic Structure and Application to Japan

Hideo Noda, Koki Kyo
{"title":"Bayesian Methods for TFP Analysis of a Multi-Region Economy with Dynamic Structure and Application to Japan","authors":"Hideo Noda, Koki Kyo","doi":"10.17256/JER.2009.14.2.002","DOIUrl":null,"url":null,"abstract":"In this paper, we present the Bayesian methods for total factor productivity (TFP) analysis of a multi-region economy with dynamic structure. Conventional approaches to the empirical analysis of regional economic growth are incapable of providing an appropriate description of the behavior of TFP. Accordingly, we introduce a set of Bayesian statistical models based on regional production functions. In our framework, TFP is regarded as a time-varying parameter, and is estimated using a Bayesian smoothness priors approach. Compared with conventional approaches, this application of a Bayesian method makes it possible to analyze the behavior of TFP in detail. In addition, we take into account the fact that elasticity of output with respect to factors of production may vary across regions, implying a structural heterogeneity among the regions. Further, the possibility of structural changes in regional economies is incorporated. As an empirical application, we present the results for an analysis of Japanese prefectural data.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"173 1","pages":"151-195"},"PeriodicalIF":0.0000,"publicationDate":"2009-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"7","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International journal of economic research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.17256/JER.2009.14.2.002","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 7

Abstract

In this paper, we present the Bayesian methods for total factor productivity (TFP) analysis of a multi-region economy with dynamic structure. Conventional approaches to the empirical analysis of regional economic growth are incapable of providing an appropriate description of the behavior of TFP. Accordingly, we introduce a set of Bayesian statistical models based on regional production functions. In our framework, TFP is regarded as a time-varying parameter, and is estimated using a Bayesian smoothness priors approach. Compared with conventional approaches, this application of a Bayesian method makes it possible to analyze the behavior of TFP in detail. In addition, we take into account the fact that elasticity of output with respect to factors of production may vary across regions, implying a structural heterogeneity among the regions. Further, the possibility of structural changes in regional economies is incorporated. As an empirical application, we present the results for an analysis of Japanese prefectural data.
动态结构多区域经济全要素生产率分析的贝叶斯方法及其在日本的应用
本文提出了多区域动态结构经济全要素生产率分析的贝叶斯方法。传统的区域经济增长实证分析方法无法对全要素生产率的行为提供恰当的描述。据此,我们引入了一套基于区域生产函数的贝叶斯统计模型。在我们的框架中,TFP被视为时变参数,并使用贝叶斯平滑先验方法进行估计。与传统方法相比,贝叶斯方法的应用使详细分析TFP的行为成为可能。此外,我们考虑到生产要素的产出弹性可能因地区而异,这意味着地区之间存在结构异质性。此外,还考虑了区域经济结构变化的可能性。作为一种实证应用,我们提出了对日本地方数据的分析结果。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
自引率
0.00%
发文量
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:604180095
Book学术官方微信