publication . Research . 2018

Aggregate Multi-Factor Productivity: Measurement Issues in OECD Countries

Egert, Balazs;
Open Access English
  • Published: 01 Jan 2018
  • Publisher: Munich: Center for Economic Studies and ifo Institute (CESifo)
Abstract
This paper analyses for 34 OECD countries the extent to which the calculation of aggregate multi-factor productivity (MFP) is sensitive to alternative parameterisations. The starting point is the definition of MFP used in previous work in the OECD’s Economics Department (e.g. Johansson et al. 2013). They include alternative MFP measures, with human capital included or excluded, with different measures of Purchasing Power Parity (PPP) exchange rates, using time-varying capital depreciation rates and different measures of capital stock and labour input (headcount against hours worked). The main result of the paper is that whether or not human capital is included i...
Subjects
free text keywords: C23, C51, J20, L43, L51, O40, C230, C510, J200, L430, L510, O400, ddc:330
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Research . 2018
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