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Total factor productivity

Total-factor productivity (TFP), also called multi-factor productivity, is usually measured as the ratio of aggregate output (e.g., GDP) to aggregate inputs. Under some simplifying assumptions about the production technology, growth in total factor productivity becomes the portion of growth in output not explained by growth in traditionally measured…

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Overview

Background

Calculation

Estimation and refinements

Critiques

Bibliography

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  • JSTOR JSTOR (identifier)
  • ISBN ISBN (identifier)

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Total factor productivity

Nodes31
Edges30
Triples67
Avg. degree1.94
Density0.064516
Components1

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Total factor productivity

Top relations

related to Bibliography · 44
Total factor productivity → Caves, Chapter, Charles, Charles Hulten, Chicago Press, Christensen, CS1, Dean, Diewert, Douglas, Econometrica, Economic Journal, Economic Research, Edwin, Erwin, Färe, Grosskopf, Harper, Hulten, Index Numbers
related to Critiques · 8
Total factor productivity → Cambridge, External, Growth, MFP, Official, TFP, The, Therefore
related to background · 6
Total factor productivity → GDP, Other, Since, Technology, TFP, Total
is a · 1
Total factor productivity → measure of productive efficiency in that it measures how much output can be produced from a certain amount of inputs

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Important terminology

productivity output tfp inputs total capital growth factor labour economic also input efficiency measured residual energy production douglas explained used

Entity relationships Subject–Predicate–Object triples

SubjectPredicateObjectConfidenceSrc
Total factor productivityis ameasure of productive efficiency in that it measures how much output can be produced from a certain amount of inputs0.90text
positive externalitiesinstance ofinherent features0.80text
non-rivalry which enhance its position as a driver of economic growth.Total factor productivityinstance ofinherent features0.80text
laborinstance ofindustry or national economy that cannot be explained by the accumulation of traditional inputs0.80text
capitalinstance ofindustry or national economy that cannot be explained by the accumulation of traditional inputs0.80text
energy are usually not includedinstance ofinstead of TFP because some inputs0.80text
mineral depletioninstance ofpublic infrastructure such as highways and environmental sustainability costs0.80text
pollution are not traditionally included.Growth accounting exercisesinstance ofpublic infrastructure such as highways and environmental sustainability costs0.80text
total factor productivity are open to the Cambridge critiqueinstance ofpublic infrastructure such as highways and environmental sustainability costs0.80text
Total factor productivityrelated to backgroundTechnology0.60section
Total factor productivityrelated to backgroundTotal0.60section
Total factor productivityrelated to backgroundTFP0.60section

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