Social capital plays a role in many desirable economic outcomes. We analyze how these beneficial effects translate into the performance of economies by developing a dynamic stochastic general equilibrium (DSGE) model featuring the role of social capital in explaining the Solow residual. We then simulate and estimate the model with Bayesian techniques using Italian data. Our framework fits actual data better than a standard DSGE model, suggesting that social capital may improve the economic performance via its impact on total factor productivity. Including human capital in the model further raises social capital’s ability to explain the Solow residual.

社会资本在许多理想的经济成果中发挥作用。我们通过建立动态随机一般均衡（DSGE）模型来分析这些有益效果如何转化为经济绩效，该模型具有社会资本在解释Solow残差中的作用。然后，我们使用贝叶斯技术使用意大利数据对模型进行仿真和估算。我们的框架比标准DSGE模型更适合实际数据，这表明社会资本可以通过影响全要素生产率来改善经济绩效。将人力资本包括在模型中，进一步提高了社会资本解释索洛残差的能力。