ETFP - What does ETFP stand for? The Free Dictionary
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In our control variables we include other factors that may have contributed to increases in value added price plus ETFP. We include the log change in the R&D intensity to account for technological change.
The final stage of the estimation takes the changes in value added prices and ETFP attributed to growth in market and supplier access and decomposes them into their mandated factor price changes to give an estimate of how access to larger markets has affected the skill premium over the sample period.
Both regressions suggest that the changes in prices plus ETFP resulting from growth in market access mandates an increase in the skilled wage at the 5% level or better.