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A Quarterly, Utilization-Adjusted Series on Total Factor Productivity : Data on Quarterly Utilization-Adjusted TFP, Working Paper 2012-19

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A Quarterly, Utilization-Adjusted Series on Total Factor Productivity : Data on Quarterly Utilization-Adjusted TFP, Working Paper 2012-19

DATE: April 2014

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ABSTRACT: This paper describes a real-time, quarterly growth-accounting database for the U.S. business sector. The data on inputs, including capital, are used to produce a quarterly series on total factor productivity (TFP). In addition, the dataset implements an adjustment for variations in factor utilization—labor effort and the workweek of capital. The utilization adjustment follows Basu, Fernald, and Kimball (BFK, 2006). Using relative prices and input/output information, the series are also decomposed into separate TFP and utilization-adjusted TFP series for equipment investment (including consumer durables) and ?consumption? (defined as business output less equipment and consumer durables).

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Federal Reserve Bank of San Francisco. "A Quarterly, Utilization-Adjusted Series on Total Factor Productivity : Data on Quarterly Utilization-Adjusted TFP, Working Paper 2012-19" in Working Papers (Federal Reserve Bank of San Francisco) (April 2014). https://fraser.stlouisfed.org/title/7038/item/639389/content/xls/frbsf_wp2012-19_data, accessed on July 18, 2025.

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THEMES: CLASSIFICATION:
  • jel: E22
  • jel: E23
  • jel: O41
  • jel: O47
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