Total Factor Productivity and Relative Prices: the case of Italy
Giorgio Garau () and
Working Paper CRENoS from Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia
Fontela in his seminal work (1989) set up the distributional rule of productivity gain in the Input–Output context (Total Factor Productivity Surplus, TFPS). Garau (1996) proposed an extension to identify a measure of surplus, called Purchasing Power Transfer (PPT). This measure is given by the productivity gains and the market surplus generated by extra–profits conditions derived from rental position detained by agents. Such a decomposition is very useful from our point of view since it would provide information about the degree of non–competitiveness in different markets. In our paper, we compute and explain Fontela's TFPS comparing it with Garau's PPT for Italy for the year 2009-2014.
Keywords: input-output; Total Factor Profuctivity Surplus; Relative Price (search for similar items in EconPapers)
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