The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Solow Residual

  • Paul A. Johnson
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2900

Abstract

Solow’s method of decomposing the growth in aggregate output into that part due to growth in inputs and that part due to technological progress has become the standard method for measuring technological progress, or growth in total factor productivity. This contribution outlines the method and later refinements.

Keywords

Growth accounting Output growth: Solow, R Technological progress Total factor productivity 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Paul A. Johnson
    • 1
  1. 1.