Total Factor Productivity Measurement Based on Labour and Capital Services

Bibliographic Data

ID6108759
AuthorsJaroslav Sixta (0000-0002-4629-4679, Prague University of Economics and Business), Kristýna Vltavská (0000-0001-9005-9636, Prague University of Economics and Business), Jaroslav Zbranek (Prague University of Economics and Business)
Year2011
Volume59
Issue5
Pages599-617
Publication date2011-10-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenuePolitická ekonomie (JOURNAL)
Journal identifiersISSN: 0032-3233 • E-ISSN: 2336-8225
PublisherPrague University of Economics and Business (PUBLISHER • CZ)
DOI10.18267/j.polek.810
OpenAlexW2334187888
LanguageEN
Citations received2
References cited6

The article focuses on new possible approaches of total factor productivity measurement. The standard computation takes into account the number of hours worked as the labour input and net or gross fixed capital stock as the capital input. This article improves the computation by using labour services as the labour input (it is necessary to take into account the skills and efforts of the workers) and capital services as the capital input. Substitution of capital stocks by capital services means that only flow indicators are used for TFP measurement. This issue became more popular in recent time in line with the revision of the manual for national accounts - SNA 2008. This paper concentrates on the development of the Czech economy between the years 2002 and 2008

Capital (architecture) · Capital deepening · Capital formation · Capital intensity · Cost of capital · Economic growth · Economics · Financial capital · Fixed capital · Human capital · Labour economics · Macroeconomics · Microeconomics · National accounts · Productivity · Total factor productivity · Economic Growth and Productivity

Tools

Open DOIOpen Access