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Measuring Productivity from Vertically Integrated Sectors

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  • Oscar De Juan
  • Eladio Febrero
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    Abstract

    There are many ways to measure productivity. The choice will depend on the suitability of each index to the main purpose the researcher has in mind. Whenever we are interested in 'competitiveness', the proper measure will be the inverse of the total labour embodied in one unit of final product; or, what amounts to the same, the labour employed in the vertically integrated sector corresponding to each final good. A weighted mean of these yields an index of aggregate productivity suitable for measuring social welfare. Another index of aggregate productivity (this one related to the profit rate and potential growth) coincides with the inverse of the maximum eigenvalue of the 'socio-technical matrix'. These indices are computed for the Spanish economy and compared with more conventional ones.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/095353100111281
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Economic Systems Research.

    Volume (Year): 12 (2000)
    Issue (Month): 1 ()
    Pages: 65-82

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    Handle: RePEc:taf:ecsysr:v:12:y:2000:i:1:p:65-82

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    Related research

    Keywords: Productivity; Vertically Integrated Sectors; Labour Values; Prices Of Production;

    References

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    1. Rymes, T K, 1972. "The Measurment of Capital and Total Factor Productivity in the Context of the Cambridge Theory of Capital," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 18(1), pages 79-108, March.
    2. Durand, Rene, 1994. "An Alternative to Double Deflation for Measuring Real Industry Value-Added," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 40(3), pages 303-16, September.
    3. Baumol, William J, 1972. "Macroeconomics of Unbalanced Growth: Reply," American Economic Review, American Economic Association, vol. 62(1), pages 150, March.
    4. Petrovic, Pavle, 1987. "The Deviation of Production Prices from Labour Values: Some Methodology and Empirical Evidence," Cambridge Journal of Economics, Oxford University Press, vol. 11(3), pages 197-210, September.
    5. Pirkko Aulin-Ahmavaara, 1999. "Effective Rates of Sectoral Productivity Change," Economic Systems Research, Taylor & Francis Journals, vol. 11(4), pages 349-363.
    6. Wolff, Edward N, 1985. "Industrial Composition, Interindustry Effects, and the U.S. Productivity Slowdown," The Review of Economics and Statistics, MIT Press, vol. 67(2), pages 268-77, May.
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    Cited by:
    1. Jordi Roca Jusmet & Monica Serrano Gutierrez, 2006. "Income Growth and Atmospheric Pollution in Spain: An Input-Output Approach," Working Papers in Economics 164, Universitat de Barcelona. Espai de Recerca en Economia.
    2. Garbellini, Nadia, 2010. "Structural Change and Economic Growth: Production in the Short Run — A generalisation in terms of vertically hyper-integrated sectors," MPRA Paper 25684, University Library of Munich, Germany.
    3. Sandro Montresor & Giuseppe Vittucci Marzetti, 2011. "The deindustrialisation/tertiarisation hypothesis reconsidered: a subsystem application to the OECD7," Cambridge Journal of Economics, Oxford University Press, vol. 35(2), pages 401-421.
    4. Garbellini, Nadia & Wirkierman, Ariel, 2009. "Changes in the productivity of labour and vertically integrated sectors — an empirical study for Italy," MPRA Paper 18871, University Library of Munich, Germany.
    5. Garbellini, Nadia, 2009. "Natural rates of profit, natural prices, and the actual economic systems - a theoretical framework," MPRA Paper 15941, University Library of Munich, Germany.

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