Measuring Total Factor Productivity: Growth Accounting for Bulgaria

Measuring Total Factor Productivity: Accounting for cross country differences in income per capita // Мјерење укупне факторске продуктивности: обрачун међудржавних разлика у БДП-у по раднику

“…Since this income is usually not reported as wages, salaries and related expenditure, but basically performs such a function, we add it to the compensation of employees. It follows that share of labour is (Ganev, K., 2005):…”

“…Only problem is to determine the amount of the initial or start-up capital. Th e initial volume of capital is calculated using the following form (Ganev, 2005):…”

“…Examples of such studies are Hernandez and Mauleon (2003) for the economy of Spain, Cororaton (2002) for the Philippines, Felipe (1997) for a group of countries in East Asia, etc. Transformation of the expression (13) gives fi nal equation for capital stock (Ganev, 2005):…”

Welfare gains from the adoption of proportional taxation in a general-equilibrium model with a grey economy: the case of Bulgaria’s 2008 flat tax reform

“…Following Ganev (2005), capital income share is set to its average value θ = 0.429, and the labor income share is 1 − θ = 0.561. Following Conesa et al (2001), parameter γ of the grey economy production function is chosen under the assumption that the labor intensity of the production function in the unofficial sector in Bulgaria is the same as in the the production function used in the official sector,i.e., γ = 0.571.…”

“…Following Conesa et al (2001), parameter γ of the grey economy production function is chosen under the assumption that the labor intensity of the production function in the unofficial sector in Bulgaria is the same as in the the production function used in the official sector,i.e., γ = 0.571. Next, using Ganev's (2005) estimate that the annual depreciation rate on physical capital is 5 %, in our quarterly model that corresponds to δ = 0.0125. Ganev's (2005) annual estimates of the average capital stock to output over the 1992-2007 are then converted to quarterly ones, thus obtaining that K/Y = 13.964.…”