Publications
Publications
- 2008
- The New Palgrave Dictionary of Economics
Total Factor Productivity
By: Diego Comin
Abstract
Total Factor Productivity (TFP) is the portion of output not explained by the amount of inputs used in production. The following definition describes the measurement and importance of TFP for growth, fluctuations and development as well as likely future directions of research.
Keywords
Business Cycles; Economic Growth; Measurement And Metrics; Production; Performance Productivity; Research
Citation
Comin, Diego. "Total Factor Productivity." In The New Palgrave Dictionary of Economics. 2nd ed. Edited by Steven Derlauf and Larry Blume. Hampshire, U.K.: Palgrave Macmillan, 2008.