Sentences with phrase «factor productivity»

And so improvements in efficiency per unit of labor and per unit of machine is called total factor productivity.

The economic term is called total factor productivity - it measures how much stuff a country can produce given a certain amount of inputs (land, capital, labour, etc).

Allowing for these changes in capital and labour inputs, total factor productivity grew at rates of 1.4 and 1.2 per cent in the first two expansions; in the 1990s expansion it is estimated to have grown at the stronger rate of 1.6 per cent.

Structural reform and productivity: Our own in - depth research of Japanese total factor productivity demonstrates the widening gap between the manufacturing and services sector (alongside one even greater sectoral gap).

The rest is attributable to businesses having a lot less physical capital (such as machines and software) than was anticipated, and having unexpectedly low total factor productivity (the productivity of labor and capital).

In measured output per worker and total factor productivity — which can be seen as a measure of innovation, advanced economies have seen productivity growth dropping to 0.3 percent, from a pre-crisis average of about 1 percent, Lagarde said earlier this month.

«We find that industrial robots increase labour productivity, total factor productivity, and wages,» write lead researchers Georg Graetz, an assistant professor in the department of economics at Uppsala, and Guy Michaels, an associate professor in the department of economics at LSE.

We have a measure of the impact of innovations that economists call «total factor productivity.»

Among her pet projects is the analysis of heterogeneity in Japanese total factor productivity.

However, total factor productivity, which allows for changes in both labour and capital inputs into the production process, and is therefore a better measure of efficiency, is growing faster in the current recovery than in the corresponding phases of either of the two previous cycles (Box 2).

It is possible, using quite simple techniques, to estimate how much of the difference in labour productivity growth between business cycles is due to changes in the capital intensity of the economy and how much is due to improved efficiency — so - called total factor productivity.