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Towards The Measurement Of Total Factor Productivity Index

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Author Info
Jakub Fischer
Jaroslav Sixta
Abstract

The paper is focused on the disputation with Mojmir Hajek on the field of the measurement of the total factor productivity index. We point out the interpretation obstacles connected to this measurement and its results at a level of the whole economy as well as of its industries. We also refer to the sensitivity of the analysis on the methodology used and bring up the alternative computations based on the methodology recommended by ESA 95 standard. Comparing these alternative approaches, it is obvious that the analysis is sensitive both on the later data revisions and on the indicators of input as well. In this case, the differences on the average annual growth of the total factor productivity can reach almost four percentage points. We also point out the difficulty of the contribution analysis of growth while chain-linked data are used.

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Publisher Info
Article provided by University of Economics, Prague in its journal Politická ekonomie.

Volume (Year): 2009 (2009)
Issue (Month): 4 ()
Pages: 544-554
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Handle: RePEc:prg:jnlpol:v:2009:y:2009:i:4:id:698:p:544-554

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Related research
Keywords: total factor productivity; employment; economic growth; chain-linked data;

Find related papers by JEL classification:
E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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This page was last updated on 2009-12-2.


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