Leaning into TFP

Enrico D'Elia and Leonello Tronti

Economia & lavoro, 2022, issue 1, 25-34

Abstract: Growth policies, including the European recovery facilities, aim at enhancing total factor productivity (TFP), which, in the neoclassical theoretical framework, is the sole source of overall output growth in addition to that mechanicall resulting from increasing labour and capital inputs. Nevertheless, few algebraic manipulations show that TFP depends on income distribution and market power. Thus, suggestive as it may be, it is only an imperfect measure of productivity; and boosting its supposed determinants mentioned in the literature, so to accelerate economic growth, can be misleading. Suitable income and industrial policies are necessary instead

Keywords: factors’ remuneration; primary income distribution; productivity; market power (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.rivisteweb.it/download/article/10.7384/105052 (application/pdf)
https://www.rivisteweb.it/doi/10.7384/105052 (text/html)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:caq:j950ix:doi:10.7384/105052:y:2022:i:1:p:25-34

Access Statistics for this article

More articles in Economia & lavoro from Carocci editore
Bibliographic data for series maintained by ().