Capital Labor Energy Materials Multifactor Productivity

Definition

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.

Synonyms

• Klems Multifactor Productivity

See Also

• http://www.oecd.org/std/productivity-stats/2352458.pdf

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.