Sentences with phrase «multifactor productivity»
NIC: The Centers for Medicare and Medicaid Services announced (on 7/27) that Medicare rates in FY 2013 will be subject to a market basket increase factor of 2.5 percent which, when combined with a negative 0.7 percentage point multifactor productivity adjustment mandated by the Affordable Care Act, results in a net FY 2013 payment update of 1.8 percent.
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The part that is left over — that is, the part of economic growth that can not be explained by the accumulation of capital and labour inputs — is what economists call multifactor productivity (MFP), an index that is widely interpreted as a measure of technical progress.
Multifactor productivity (MFP), commonly interpreted as a measure of technical progress, is at the same level in 2011 as it was in 1971 (for an explanation of what MFP is, see part two).
StatsCan also told Econowatch that, «Regardless of which estimate is used, the overall trends in multifactor productivity growth in Canada remain consistent.»
That is why we have zero growth in multifactor productivity (the standard measure of the commercialization of innovation) over the past three decades, as reported by Statistics Canada.
But StatsCan's dismissal of the Diewert - Yu study based on issues of compatibility with U.S. statistics seems perplexing if Canada's official way of computing multifactor productivity is significantly different from what is standard practice south of the border.
Airline workers also work much harder than they did in the past; the industry had the second highest multifactor productivity growth from 1997 through 2014, according to an analysis by the Bureau of Labor Statistics.
(Note: multifactor productivity, or MFP, is commonly seen as measure of technical progress — the increase in output that can not be explained by the accumulation of labour and capital inputs.
The research debate is ongoing, but there is obviously something wrong with the way Statistics Canada currently estimates multifactor productivity, or at least with the way it is interpreted.