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Souhrnná produktivita faktorů založená na službách práce a kapitálu
[Total Factor Productivity Measurement Based on Labour and Capital Services]

Author

Listed:
  • Jaroslav Sixta
  • Kristýna Vltavská
  • Jaroslav Zbranek

Abstract

The article focuses on new possible approaches of total factor productivity measurement. The standard computation takes into account the number of hours worked as the labour input and net or gross fixed capital stock as the capital input. This article improves the computation by using labour services as the labour input (it is necessary to take into account the skills and efforts of the workers) and capital services as the capital input. Substitution of capital stocks by capital services means that only flow indicators are used for TFP measurement. This issue became more popular in recent time in line with the revision of the manual for national accounts - SNA 2008. This paper concentrates on the development of the Czech economy between the years 2002 and 2008.

Suggested Citation

  • Jaroslav Sixta & Kristýna Vltavská & Jaroslav Zbranek, 2011. "Souhrnná produktivita faktorů založená na službách práce a kapitálu [Total Factor Productivity Measurement Based on Labour and Capital Services]," Politická ekonomie, Prague University of Economics and Business, vol. 2011(5), pages 599-617.
    • Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:5:id:810:p:599-617
    DOI: 10.18267/j.polek.810
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    References listed on IDEAS

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    1. Marcel P. Timmer & Mary O’Mahony & Bart van Ark, 2007. "EU KLEMS Growth and Productivity Accounts: An Overview," International Productivity Monitor, Centre for the Study of Living Standards, vol. 14, pages 71-85, Spring.
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    Cited by:

    1. Tomáš Volek & Martina Novotná, 2015. "Gross Value Added and Total Factor Productivity In Czech Sectors," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 9(1), March.
    2. Kristýna Vltavská & Jaroslav Sixta, 2015. "A Historical View on the Development of Czech Economy from 1970," Prague Economic Papers, Prague University of Economics and Business, vol. 2015(1), pages 105-122.
    3. Jakub Fischer & Kristýna Vltavská & Igor Krejčí, 2013. "The Impact of Revisions of National Accounts on the Estimation of Derived Indicator [Dopad revizí v národních účtech na odhady odvozeného indikátoru]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2013(4), pages 20-33.

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    More about this item

    Keywords

    total factor productivity; capital services; labour services;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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