• The Power of Productivity: Measuring What Drives Economic Growth

  • May 9 2025
  • Durée: 19 min
  • Podcast

The Power of Productivity: Measuring What Drives Economic Growth

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  • Résumé

  • What exactly is productivity, and why does it matter so much in economics? In this episode, we demystify productivity by exploring its two key forms—labour productivity and multifactor productivity (MFP)—and explain how they’re measured using real-world methods from the ABS. Learn how economists calculate output and inputs, the challenges involved in productivity measurement, and the crucial role of efficiency and innovation in driving growth. We also dive into how productivity gains translate into higher wages, lower prices, and stronger economies. A must-listen for economics students and policy enthusiasts alike.


    Source: https://www.rba.gov.au/education/resources/explainers/
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