Brandt, Nicola; Schreyer, Paul; Zipperer, Vera - 2013
Traditional measures of multi-factor productivity (MFP) growth generally do not recognise natural capital as inputs … into the production process. Since productivity growth is measured as the residual between output and input growth, it will … pick up the growth in unmeasured inputs, which can lead to a bias. The purpose of this paper is to gain a better …