This book develops the theory of productivity measurement using the empirical index number approach. The theory uses … agents, and perfect foresight. The theory can be applied to all the common levels of aggregation (micro, meso, and macro … - Aggregate Output and Simple Labour Productivity Indices -- Chapter 7: The Top-Down Approach 2 - Aggregate Total Factor …

Labor productivity (LP) in the United States has gone from being procyclical to acyclical since the mid-1980s. Using … industry-level data, this paper first shows that total factor productivity (TFP), which is LP net of capital deepening, has … reasons for the change in the cyclicality of productivity. By decomposing TFP into technical change and input utilization, it …