Chapter

Which (Old) Ideas on Productivity Measurement Are Ready to Use?

Edited by W. Erwin Diewert

in New Developments in Productivity Analysis

Published by University of Chicago Press

Published in print August 2001 | ISBN: 9780226360621
Published online February 2013 | e-ISBN: 9780226360645 | DOI: http://dx.doi.org/10.7208/chicago/9780226360645.003.0003
Which (Old) Ideas on Productivity Measurement Are Ready to Use?

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This chapter focuses on some of the difficulties involved in measuring multifactor productivity (MFP). It suggests that statistical agencies put more effort into measuring the major classes of inputs and outputs that production units produce and use. The chapter is organized as follows. Sections 3.2–3.8 review the main classes of outputs and inputs that statistical agencies must measure in order to form accurate measures of MFP for production units, and discuss some of the measurement difficulties associated with each class. Sections 3.9–3.11 discuss more esoteric capital inputs. Section 3.12 comments on the “optimal” organization of a statistical system that would measure MFP with more accuracy. Section 3.13 looks at the difference between the efficiency of particular production units and the efficiency of the economy as a whole. Section 3.14 concludes with some observations on the difficulties facing statistical agencies in this time of rapid change.

Keywords: multifactor productivity; productivity measurement; inputs; outputs; statistical agencies; production units

Chapter.  7314 words. 

Subjects: Econometrics and Mathematical Economics

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