KIM Sangho    Department   Ritsumeikan Asia Pacific University  College of Asia Pacific Studies    Position   Professor
Language	English
Publication Date	2014/04
Type	Research paper (Academic/Professional Journal)
Peer Review	Peer reviewed
Title	Estimating Productivity Growth in the Korean Economy without Restrictive Assumptions
Contribution Type	Single Work
Journal	Contemporary Economic Policy
Volume, Issue, Page	32(2),pp.520-532
Details	This study eliminates the effects of markup, returns to scale, and capital utilization from the Solow residual (SR) for Korea to derive an alternative measure for productivity. Empirical results show that markup generates significant bias in the SR, and that the alternative productivity measure is greater than the residual. Furthermore, money supply Granger-causes the SRs but does not Granger-cause the alternative measure, suggesting that the new productivity measure is consistent with the neutrality of money. The results contradict the presumption that the SR with variable capital utilization represents true technology shocks because it is orthogonal to demand shocks. Note: A final proof for print was submitted, but actual publication date is not set. To register here, I just put it as 03/01/2014.
DOI	10.1111/coep.12046
ISSN	1074-3529