Journal Article
Are we in a productivity boom? Evidence from multifactor productivity growth
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.
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 1999
Issue: Oct
Order Number: 2