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 … our ignorance,' with ample scope for measurement error. Another source of controversy arises from sins of omission, rather …

Typically measures of multifactor productivity growth have been based on a production and optimization framework that … utilization indexes, and on the adjustment of observed productivity measures for the effects of short run fixity characterized by … capacity utilization adjustments for productivity growth measures. The resulting framework is then used to identify empirically …

Although a great deal of empirical research on productivity measuremant has taken place in the last decade, one issue … remaining particudarly controversial and deaisive is the manner by which one adjusts the productivity residual for variations in … that for the U.S. manufacturing sector, we can attribute about 50% of the traditionally measured decline in productivity …

reflect misallocation which hinders aggregate productivity. But differences in measured average products need not reflect … measurement error. Our method exploits how revenue growth is less sensitive to input growth when a plant's average products are … overstated by measurement error. For Indian manufacturing from 1985-2013, our correction lowers potential gains from reallocation …

standard productivity measures. TFPQ performs poorly because of variation in product specifications across firms. Controlling … for specifications aligns TFPQ with lab benchmarks. We also collect quality metrics to construct quality productivity (the …-dimensional productivity, or capability. As quality productivity is negatively correlated with TFPQ, TFPR may perform better at capturing …

productivity. I begin with a discussion of productivity measures, their performance in recent decades, and key measurement puzzles …This paper provides a non-technical review of the literature and issues related to the measurement of aggregate … measurement to keep up with a changing economy? This section frames the issues and points to the most important and promising …

Since 1995, growth in productivity in the United States appears to have accelerated dramatically. In this paper, we … cause conventionally measured growth in real output and productivity to be overstated. Building on the GDP function approach … year, or about 20%, of the 1995-2006 apparent increase in productivity growth for the U.S. economy. Bias in the price …

This paper presents a new approach to assess the role of price mismeasurement in the productivity slowdown. I invert … the firm's investment decision to identify the embodied and disembodied components of productivity growth. With a Cobb … that in the Post-War period, disembodied productivity grew faster in the hard-to-measure than in the non-manufacturing easy …

productivity residuals in the United States and Canada. Using data on 19 manufacturing industries, we study the behavior of … productivity using three proxies for capital services. We find that adjusting for cyclical movements in capital utilization alters … many of the empirical characteristics of productivity, both within and across countries …