Definition: Total factor productivity
OECD terminology
Synonym for multifactor productivity (MFP). This manual uses the MFP acronym to signal a certain modesty with respect to the capacity of capturing all factors’ contribution to output growth.
Source:
Organization for Economic Cooperation and Development (OECD), "Measuring Productivity - OECD Manual: Measurement of Aggregate and Industry-Level Productivity Growth", Paris, 2001
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