Term:
Multi-factor productivity (MFP)
Definition:
Multi-factor productivity (MFP) relates a change in output to several types of inputs. MFP is often measured residually, as that change in output that cannot be accounted for by the change in combined inputs.
Domain:
Economics & National Accounts
Source:
OECD Productivity Manual: A Guide to the Measurement of Industry-Level and Aggregate Productivity Growth, OECD, Paris, March 2001, Annex 1 – Glossary
