Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/64482 
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dc.contributor.authorJeon, Yongboken
dc.date.accessioned2012-09-28T12:40:33Z-
dc.date.available2012-09-28T12:40:33Z-
dc.date.issued2007-
dc.identifier.urihttp://hdl.handle.net/10419/64482-
dc.description.abstractThe aim of the present paper is to critically reappraise the validity and the relevance of the notion of total factor productivity (TFP) as a measure of technological progress. Placing the focus on the role that the neoclassical distribution theory plays in measuring technological progress, we take up the recent revival of the tautology argument (Felipe & McCombie 2003) and the simple results of the capital controversies. First, I argue that the measure of TFP exclusively relies on the marginal productivity theory of distribution through which factors' income shares are linked to their technological progress. Second, it will be shown that the marginal productivity theory of distribution is based on extremely limited theoretical and empirical grounds. Third, therefore, it is concluded that the measure of TFP as a measurement of the contribution made by technical progress to the economic growth has very little to do with the reality.en
dc.language.isoengen
dc.publisher|aThe University of Utah, Department of Economics |cSalt Lake City, UTen
dc.relation.ispartofseries|aWorking Paper |x2007-04en
dc.subject.jelB41en
dc.subject.jelO11en
dc.subject.jelO47en
dc.subject.ddc330en
dc.subject.keywordTotal Factor Productivityen
dc.subject.keywordMarginal Productivity Theory of Distributionen
dc.subject.keywordIncome Accounting Identityen
dc.subject.keywordCapital Controversiesen
dc.titleTotal factor productivity and income distribution: A critical review-
dc.typeWorking Paperen
dc.identifier.ppn572640501en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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