TechWorkRamblings

by Mike Kalvas

202110220859 Utilization adjusted total factor productivity

Total factor productivity captures how much output can be produced with a diverse but fixed basket of inputs. As technology and institutions improve, TFP goes up. As they deteriorate, it goes down. In the last decade, TFP has deeply stagnated.1


  1. Dourado, E. (2022). Total factor productivity. Eli Dourado. https://elidourado.com/tfp/