Abstract
Growth accounting consists of a set of calculations resulting in a measure of output growth, a measure of input growth, and their difference, most commonly referred to as total factor productivity (TFP) growth. It can be performed at the level of the plant, firm, industry, or aggregate economy. This article discusses the theoretical interpretation of the growth-accounting exercise, problems of measurement, and main empirical results. It concludes with a (very selective) history of the field.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Bibliography
Abramowitz, M. 1956. Resource and output trends in the United States since 1870. American Economic Review 46: 5–23.
Barton, G., and M. Cooper. 1948. Relation of agricultural production to inputs. The Review of Economics and Statistics 30: 117–126.
Christensen, L., and D. Jorgenson. 1969. The measurement of U.S. real capital input, 1929–1967. Review of Income and Wealth 15: 293–320.
Christensen, L., and D. Jorgenson. 1970. U.S. real product and real factor input, 1929–1967. Review of Income and Wealth 16: 19–50.
Christensen, L., D. Jorgenson, and L. Lau. 1973. Trascendental logarithmic production frontiers. The Review of Economics and Statistics 55: 28–45.
Denison, E. 1962. The sources of economic growth in the United States and the alternatives before Us. New York: Committee for Economic Development.
Diewert, E. 1976. Exact superlative index numbers. Journal of Econometrics 4: 115–145.
Fraumeni, B., F. Gollop, and D. Jorgenson. 1987. Productivity and U.S. economic growth. Cambridge, MA: Harvard University Press.
Griliches, Z., and D. Jorgenson. 1966. Sources of measured productivity change: Capital input. American Economic Review 56: 50–61.
Jorgenson, D. 1966. The embodiment hypothesis. Journal of Political Economy 74: 1–17.
Jorgenson, D., and B. Fraumeni. 1992. Investment in education and U.S. economic growth. Scandinavian Journal of Economics 94 (Suppl): 51–70.
Jorgenson, D., and Z. Griliches. 1967. The explanation for productivity change. Review of Economic Studies 34: 249–283.
Kendrick, J. 1956. Productivity trends: Capital and labor. The Review of Economics and Statistics 38: 248–257.
Kendrick, J. 1961. Productivity trends in the United States. Princeton: Princeton University Press.
Kendrick, J., and C. Jones. 1951. Gross national farm product in constant dollars, 1910–50. Survey of Current Business 31: 13–19.
Schmookler, J. 1952. The changing efficiency of the American economy, 1869–1938. The Review of Economics and Statistics 34: 214–231.
Solow, R. 1957. Technical change and the aggregate production function. The Review of Economics and Statistics 39: 312–320.
Solow, R. 1960. Investment and technical progress. In Mathematical methods in the social sciences, 1959, ed. K.J. Arrow, S. Karlin, and P. Suppes. Stanford: Stanford University Press.
Stigler, G. 1947. Trends in output and employment. Cambridge, MA: NBER.
Tinbergen, J. 1942. Zur Theorie der Langfristigen Wirtschaftsentwicklung. Weltwirtschaftliches Archiv 55: 511–549.
Young, A. 1995. The tyranny of numbers: Confronting the statistical realities of the East Asian growth experience. Quarterly Journal of Economics 110: 641–680.
Author information
Authors and Affiliations
Editor information
Copyright information
© 2018 Macmillan Publishers Ltd.
About this entry
Cite this entry
Caselli, F. (2018). Growth Accounting. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_885
Download citation
DOI: https://doi.org/10.1057/978-1-349-95189-5_885
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences