In this paper, we provide a decomposition of GDP growth that is complete and exact for the translog national income function and for the Tornqvist index of real GDP. The contributions of changes in output quantities, factor prices and total factor productivity are identified. Special...

Nearly all international trade takes place in middle products, rather than in finished goods as it is assumed in most models of international trade theory. Recognition of this fact has some far-reaching consequences for the measurement of real value added, real domestic income, and productivity,...