MEASURING AND DECOMPOSING CAPITAL INPUT COST

The measurement of total factor productivity change (or difference) vis‐à‐vis labor productivity change crucially depends on the measurement and decomposition of capital input cost. This paper discusses the basics of its measurement and shows that one can dispense with the usual neoclassical assumpt...

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Bibliographic Details
Published in:The Review of income and wealth 2011-09, Vol.57 (3), p.490-512
Main Author: BALK, BERT M.
Format: Article
Language:English
Subjects:
Capital costs
Capital depreciation
Capital stock
Cost of capital
Labour productivity
Measurement
Productivity concept
Productivity growth
Productivity measurement
Studies
Total factor productivity
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Summary:The measurement of total factor productivity change (or difference) vis‐à‐vis labor productivity change crucially depends on the measurement and decomposition of capital input cost. This paper discusses the basics of its measurement and shows that one can dispense with the usual neoclassical assumptions. By virtue of its structural features, the measurement model is applicable to individual establishments and aggregates such as industries, sectors, or economies.
ISSN:0034-6586
1475-4991
DOI:10.1111/j.1475-4991.2010.00435.x