Factor Utilization and Adjusted Productivity Estimates for the UK*
通过一般均衡模型推导出英国的资本利用率、劳动努力和全要素生产率序列，发现资本利用率与调查数据吻合，而劳动努力序列与可比指标相关性较低；调整后的全要素生产率比传统索洛残差更不具周期性。
Abstract This paper derives series for capital utilization, labour effort and total factor productivity (TFP) for the UK from a general equilibrium model with variable utilization and labour adjustment costs. Capital utilization tracks survey‐based measures closely, but persistent movements in total hours worked mean our labour effort series is not as highly correlated with its comparators. Our estimated TFP series is less cyclical than the traditional Solow residual, although a weighted average of capital utilization and labour effort – aggregate factor utilization – and the Solow residual are not closely related.