Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 8, 2020 erstellt
Beschreibung:
Besides to the usual Productivity indexes derived from the Labour (value-added) productivity ratio, public statistical bodies pay also some attention, to a lesser extent, to ‘multi-factor productivity’ (mfp) indexes at sector and country level, which are based in the TFP approach. The label (multi-factor) refer to the idea of a more complete and/or accurate measure which does not take just one factor, Labour, but the all of them. However, most of the information on mfp offered by such statistical bodies refer in fact to a very simplified two-inputs approach: Labour and Capital. Only in some cases we may find data referring to a model encompassing also other factors –namely: Energy, Materials, and Services: a KLEMS mfp model, (for: Capital, K; Labour, L; Energy, E; Materials, M; and Services, S).The published data on these mfp indexes do not use to enjoy significant appeal either in the media or in the political debate. Mainly because it only comes in terms of rates or indexes of growth (change-over-time), not in absolute values; which do not allow for comparisons among sectors or among countries. But it is also because the reading and interpretation of this mfp data require getting into complex technicalities –including definitions and assumptions that are in fact a matter of debate in professional and academic literature, as we sill see in what follows