Measuring Total Factor Productivity for the United Kingdom

11 Pages Posted: 12 Apr 2005

See all articles by Charlotta Groth

Charlotta Groth

Bank of England - Monetary Analysis

Maria Gutierrez-Domenech

La Caixa

Sylaja Srinivasan

Bank of England - Monetary Analysis

Abstract

A good understanding of productivity growth is important for understanding aggregate supply capacity, and so for the conduct of monetary policy. To understand the sources of supply capacity well, it is important to measure output and factor inputs correctly. This article summarises recent and ongoing research at the Bank of England on improved measures of factor inputs. This work explicitly accounts for changes in the quality of these inputs and for the flow of services available from them, as well as for the costs of adjusting the level and utilisation of the inputs over time. This research was presented at a workshop on 'measuring factor inputs' held at the Bank of England in December 2003.

Suggested Citation

Groth, Charlotta and Gutierrez-Domenech, Maria and Srinivasan, Sylaja, Measuring Total Factor Productivity for the United Kingdom. Bank of England Quarterly Bulletin, Spring 2004. Available at SSRN: https://ssrn.com/abstract=701283

Charlotta Groth (Contact Author)

Bank of England - Monetary Analysis ( email )

Threadneedle Street
London EC2R 8AH
United Kingdom

Maria Gutierrez-Domenech

La Caixa ( email )

Av Diagonal 629
Barcelona, 08028
Spain

Sylaja Srinivasan

Bank of England - Monetary Analysis ( email )

Threadneedle Street
London EC2R 8AH
United Kingdom

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