This study estimates productivity gains and their distribution among inputs and outputs for American industries over the period 1987-2011 using the traditional surplus accounting method. Total Factor Productivity (TFP) change is traditionally defined as the growth rate of output minus the growth...

In this paper, firm profit loss is decomposed as the sum of two terms related to the output price uncertainty (price expectation error and risk preference), plus one extra term expressing technical inefficiency. We then describe the implementation of our theoretical model in a robust data...