Capital Labor Energy Materials Multifactor Productivity
Capital Labor Energy Materials Multifactor Productivity. A ratio of a quantity index of gross output to a quantity index of combined inputs
Shows the time profile of how productively combined inputs are used to generate gross output. Conceptually, the KLEMS productivity measure captures disembodied technical change. In practice, it reflects also efficiency change, economies of scale, variations in capacity utilisation and measurement errors.
- Klems Multifactor Productivity
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