EconStor >
The University of Utah, Salt Lake City >
Department of Economics, The University of Utah, Salt Lake City >
Department of Economics Working Paper Series, University of Utah >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/64482
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorJeon, Yongboken_US
dc.date.accessioned2012-09-28T12:40:33Z-
dc.date.available2012-09-28T12:40:33Z-
dc.date.issued2007en_US
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_US
dc.language.isoengen_US
dc.publisherUniv. of Utah, Dep. of Economics Salt Lake City, Utahen_US
dc.relation.ispartofseriesWorking Paper, University of Utah, Department of Economics 2007-04en_US
dc.subject.jelB41en_US
dc.subject.jelO11en_US
dc.subject.jelO47en_US
dc.subject.ddc330en_US
dc.subject.keywordTotal Factor Productivityen_US
dc.subject.keywordMarginal Productivity Theory of Distributionen_US
dc.subject.keywordIncome Accounting Identityen_US
dc.subject.keywordCapital Controversiesen_US
dc.titleTotal factor productivity and income distribution: A critical reviewen_US
dc.typeWorking Paperen_US
dc.identifier.ppn572640501en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Department of Economics Working Paper Series, University of Utah

Files in This Item:
File Description SizeFormat
572640501.pdf159.81 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.