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Measuring Productivity from Vertically Integrated Sectors

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  • Oscar De Juan
  • Eladio Febrero

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.

Suggested Citation

  • Oscar De Juan & Eladio Febrero, 2000. "Measuring Productivity from Vertically Integrated Sectors," Economic Systems Research, Taylor & Francis Journals, vol. 12(1), pages 65-82.
    • Handle: RePEc:taf:ecsysr:v:12:y:2000:i:1:p:65-82
    DOI: 10.1080/095353100111281
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    References listed on IDEAS

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    1. Baumol, William J, 1972. "Macroeconomics of Unbalanced Growth: Reply," American Economic Review, American Economic Association, vol. 62(1), pages 150-150, March.
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    Cited by:

    1. Nadia Garbellini & Ariel Luis Wirkierman, 2014. "Productivity Accounting in Vertically (Hyper-)integrated Terms: Bridging the Gap between Theory and Empirics," Metroeconomica, Wiley Blackwell, vol. 65(1), pages 154-190, February.
    2. Sandro Montresor & Giuseppe Vittucci Marzetti, 2011. "The deindustrialisation/tertiarisation hypothesis reconsidered: a subsystem application to the OECD7," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 35(2), pages 401-421.
    3. Brondino, Gabriel, 2019. "Productivity growth and structural change in China (1995–2009): A subsystems analysis," Structural Change and Economic Dynamics, Elsevier, vol. 49(C), pages 183-191.
    4. 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.
    5. 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.
    6. 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.
    7. Roca, Jordi & Serrano, Monica, 2007. "Income growth and atmospheric pollution in Spain: An input-output approach," Ecological Economics, Elsevier, vol. 63(1), pages 230-242, June.
    8. Michael Gaul, 2024. "A Discussion of Marx’s Account of Technical Progress by Means of Wage Curves and Their Historical Evolution," Review of Radical Political Economics, Union for Radical Political Economics, vol. 56(2), pages 267-299, June.
    9. Peter Flaschel & Reiner Franke & Roberto Veneziani, 2013. "Labour productivity and the law of decreasing labour content," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 37(2), pages 379-402.

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