Alternative Output, Input and Income Concepts for the Production Accounts

Abstract

Definitions of output and input are key to studies of productivity analysis, as they are to the national accounts of countries. This paper systematically reviews alternative definitions at production unit and aggregate levels, illustrating the different perspectives that they provide on production and income, and making the case for their use in understanding different aspects of firm and country economic performance.

Keywords: Production, Income, System of National Accounts, Productivity, Capital

JEL Classification: D24, E01, E23