TFP

christian a. gregory chrisgregory11 at email.msn.com
Wed Jan 12 15:34:32 PST 2000


Hey,

A question: TFP (total factor productivity) is generally regarded a ratio of inputs to outputs in a national economy. But is it not also a stochastic term, meaning that it expresses what productivity *cannot* be accounted for by some kind of aggregate account of individual inputs on output? That is, is it not also the something that measures how individual inputs together create output greater than the sum of their individual productivities?

Erroneously, Christian



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