The distribution of sectoral TFP growth rates: International evidence |
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| Authors: | Edoardo Gaffeo |
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| Institution: | aDepartment of Economics and CEEL, University of Trento, Italy |
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| Abstract: | This paper investigates the distributional properties of TFP growth rates for countries in the G7 group. Our findings lend support to the hypothesis that multifactor productivity shocks can be plausibly fitted by a symmetric non-Gaussian stable distribution model. This leads to non-negligible implications for business cycle analysis. |
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| Keywords: | TFP Stable distributions Business cycle |
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