A Model of TFP
构建了一个加总模型，从微观生产单位加总得到总量生产函数，揭示全要素生产率取决于冲击分布和劳动力市场特征，并用于分析劳动力市场政策对TFP的影响。
This paper proposes an aggregative model of total factor productivity (TFP) in the spirit of Houthakker (1955-1956) . It considers a frictional labour market where production units are subject to idiosyncratic shocks and jobs are created and destroyed as in Mortensen and Pissarides (1994) . An aggregate production function is derived by aggregating across micro-production units in equilibrium. The level of TFP is explicitly shown to depend on the underlying distribution of shocks as well as on all the characteristics of the labour market as summarized by the job-destruction decision. The model is also used to study the effects of labour-market policies on the level of measured TFP. Copyright 2006, Wiley-Blackwell.