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The Measurement of the Physical Volume of Production

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  • Arthur F. Burns

Abstract

Introduction. — I. Development of a measure of the physical volume of production on the basis of the concept of production in general economic theory, 243. — The "index" and "deflating" methods, 244. — II. The relation between the economic quantities "production" and "national income," 247. — III. The necessity of including the value factor in measures of physical production and the consequent shortcomings of such a measure, 250. — IV. Other limitations of a measure of physical production, 257. — V. Conclusions, 261.

Suggested Citation

  • Arthur F. Burns, 1930. "The Measurement of the Physical Volume of Production," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 44(2), pages 242-262.
    • Handle: RePEc:oup:qjecon:v:44:y:1930:i:2:p:242-262.
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    File URL: http://hdl.handle.net/10.2307/1885249
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    Cited by:

    1. Dan M. Bechter & Zoltan Kenessey & Fred Siegmund & Ray D. Whitman, 1991. "A total production index for Washington, D.C," Economic Review, Federal Reserve Bank of Richmond, vol. 77(May), pages 13-22.
    2. Bert M. Balk, 2010. "An Assumption‐Free Framework For Measuring Productivity Change," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 224-256, June.

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