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Are we in a productivity boom? Evidence from multifactor productivity growth

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  • Paul W. Bauer

Abstract

Increased productivity could be the key to preserving robust, noninflationary GDP growth. But what is the best measure of productivity? This Economic Commentary explores the relationship between labor productivity and multifactor productivity, a measure that accounts for factors other than technological improvement. It concludes that MFP provides a better measure of productivity due solely to technical change.

Suggested Citation

  • Paul W. Bauer, 1999. "Are we in a productivity boom? Evidence from multifactor productivity growth," Economic Commentary, Federal Reserve Bank of Cleveland, issue Oct.
    • Handle: RePEc:fip:fedcec:y:1999:i:oct15
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    Cited by:

    1. C. Alan Garner, 2000. "An inflation report for 1999," Economic Review, Federal Reserve Bank of Kansas City, vol. 85(Q I), pages 5-20.

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