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...

This paper presents the Measurement Framework of the OECD Inclusive Growth Initiative, a horizontal project that the OECD launched in 2012 to develop a new vision of economic growth that can translate in higher living standards for all. This measurement framework builds on the equivalent income...

This paper presents a productivity growth measure that explicitly accounts for natural capital as an input factor and for undesirable goods, or “bads”, as an output of the production process. The discussion focuses on the extension of productivity measurement for bad outputs and estimates of...