values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …

Economists have long recognized that total factor productivity is an important factor in the process of economic growth … assumptions. Total factor productivity growth is estimated as a residual, using index number techniques. It is thus a measure of … than commission. A New Economy critique of productivity points to unmeasured gains in product quality, while an …

We estimate the rate of total factor productivity growth in Indian manufacturing industry for the period 1973-1992, and … it ignores the additional capital formation made possible by an increase in productivity and therefore understates … productivity's true importance. Our estimates suggest that the understatement may be quite large, and that one might better ask if …

change. This provides a bridge between the productivity literature and the welfare-related literature that tends to reason in … terms of net product functions: although the relevant income measure is net of depreciation, productivity is measured based … on gross output. We show that net product, net income, net expenditure and productivity change are complements, not …

summarized to a first order by the current and expected future values of the Solow productivity residual in level and by the …

economic growth into capital-deepening and productivity components, to a more complex account of the growth process. In the … more complex account, capital and productivity interact, both are endogenous, and quality change in inputs and output … matters. New developments in micro-level productivity analysis are also reviewed, and the long-standing question of net versus …

becomes the unambiguously dominant source of growth in labor productivity. The role of multifactor productivity is …

Measured productivity growth increased substantially during the second half of the 1990s. This paper examines whether … productivity growth does appear to arise from an increase in technological change. Cyclical utilization raised measured … productivity growth relative to technology growth in the first part of the expansion, but lowered it subsequently. Factor …

Productivity rises in booms and falls in recessions. There are four main explanations for this procyclical productivity … procyclical productivity as an essential feature of business cycles because each explanation has important implications for … utilization and resource reallocations are particularly important in explaining procyclical productivity. We also argue that the …