Multi–factor productivity: estimates for 1994 to 2008

Long, Katy; Franklin, Mark N.

doi:10.1057/elmr.2010.131

Cited by 6 publications

(9 citation statements)

References 11 publications

(11 reference statements)

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“…Despite on-going critiques [102][103][104], the practical reality is that: (1) "economists have continued using the aggregate production function in both theoretical and applied works" ( [98], p. 262); and (2) that energy is increasingly used as a factor of production by a wide set of studies beyond academia, including government agencies [8,68,82,105] and central banks [67,[106][107][108][109]. Several reasons may explain this.…”

Section: Wider Literature Searchmentioning

confidence: 99%

Energy-Extended CES Aggregate Production: Current Aspects of Their Specification and Econometric Estimation

et al. 2017

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Capital-labour-energy Constant Elasticity of Substitution (CES) production functions and their estimated parameters now form a key part of energy-economy models which inform energy and emissions policy. However, the collation and guidance as to the specification and estimation choices involved with such energy-extended CES functions is disparate. This risks poorly specified and estimated CES functions, with knock-on implications for downstream energy-economic models and climate policy. In response, as a first step, this paper assembles in one place the major considerations involved in the empirical estimation of these CES functions. Discussions of the choices and their implications lead to recommendations for CES empiricists. The extensive bibliography allows those interested to dig deeper into any aspect of the CES parameter estimation process.

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Section: Wider Literature Searchmentioning

confidence: 99%

Energy-Extended CES Aggregate Production: Current Aspects of Their Specification and Econometric Estimation

et al. 2017

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“…This breakdown differs from that in Wallis and Turvey (2009) because the industry breakdown of the associated quality adjusted labour series has been expanded (see Turvey, Goodridge and Franklin 2010). The multifactor productivity release (Long and Franklin 2010) is also presented based on this expanded industry breakdown.…”

Section: Capital Services By Industrymentioning

confidence: 99%

“…An accompanying article (see Turvey, Goodridge and Franklin, 2010) presents experimental quality-adjusted labour input (QALI) estimates for the UK for 1997 to 2008. Together with capital services these form the inputs into the multi-factor productivity (MFP) estimates that are published annually by ONS (see Long and Franklin, 2010).…”

Section: Introductionmentioning

confidence: 99%

Volume of capital services: annual estimates for 1950 to 2008 and new quarterly series

Wallis

Long

Turvey

2010

Econ Lab Market Rev

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SummaryCapital services are the flow of services into the production of output that are generated by the capital stock, as opposed to the stock of capital itself. As such, capital services are the measure of capital input that is more suitable for analysing and modelling productivity (see Long and Franklin 2010 for new estimates of multi-factor productivity). This article presents experimental capital services estimates for 1950 to 2008. New estimates for 2008 are presented in this article with earlier years updated to incorporate revisions throughout the time series. Revisions are caused primarily by balancing revisions to the constant price plant and machinery series and new data on computer hardware investment. In addition, this article presents for the first time an experimental quarterly series of capital services growth for the whole economy.

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“…What Long and Franklin (2010) shows is that market sector multifactor productivity growth grew by 1.0 per cent a year over the period 1995 to 2008. However not all sectors grew at the same rate.…”

Section: Triangulationmentioning

confidence: 99%

“…As well as the estimates for public service productivity published in this article ONS also produces experimental statistics of multi-factor productivity (MFP) for the whole economy and for some broad industrial groupings. The most recent estimate are in Long and Franklin (2010). The broad industrial groupings include the group of industries classified as Sections L, M, and N (henceforth LMN): that is, public administration and defence (L), education (M) and health and social work (N).…”

Section: Triangulationmentioning

confidence: 99%

Total public service output, inputs and productivity

Phelps

Kamarudeen

Mills

et al. 2010

Econ Lab Market Rev

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In 2008, public services accounted for approximately 22 per cent of the expenditure measure of Gross Domestic Product (GDP) in the UK. Given the Government's announced intention to cut government spending and given that almost everyone is a potential user of public services such as the NHS or schools there is a particular concern about 'what we are getting for our money'. One important aspect of this, though not the only aspect, is productivity: the quantity of output that is produced divided by the quantity of input used. The Office for National Statistics (ONS) has published periodic assessments of the productivity performance of key public services. This article updates the experimental estimates for all public services which were produced last year (Phelps 2009).

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Multi–factor productivity: estimates for 1994 to 2008

Cited by 6 publications

References 11 publications

Energy-Extended CES Aggregate Production: Current Aspects of Their Specification and Econometric Estimation

Energy-Extended CES Aggregate Production: Current Aspects of Their Specification and Econometric Estimation

Volume of capital services: annual estimates for 1950 to 2008 and new quarterly series

Total public service output, inputs and productivity

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