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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, University of Economics, Prague, vol. 2011(5), pages 599-617.
  • Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:5:id:810:p:599-617
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    Cited by:

    1. Kristýna Vltavská & Jaroslav Sixta, 2015. "A Historical View on the Development of Czech Economy from 1970," Prague Economic Papers, University of Economics, Prague, vol. 2015(1), pages 105-122.
    2. Tomáš Volek & Martina Novotná, 2015. "Gross Value Added and Total Factor Productivity In Czech Sectors," Contemporary Economics, University of Finance and Management in Warsaw, vol. 9(1), April.

    More about this item

    Keywords

    total factor productivity; capital services; labour services;

    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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