Total Factor Productivity

---

Implementation details

Class names

Model name	Parameters class	Data class
TotalFactorProductivity	TotalFactorProductivityQueryParams	TotalFactorProductivityData

Import Statement

from openbb_core.provider.standard_models. import (
TotalFactorProductivityData,
TotalFactorProductivityQueryParams,
)

Parameters

• standard
• federal_reserve

frequency: Literal['quarter', 'annual', 'summary'] | None
Default: quarter
Type of data to return. 'quarter' for quarterly time series, 'annual' for annual time series, 'summary' for summary statistics (period means).

start_date: date | None | str
Start date of the data, in YYYY-MM-DD format. Only applicable for time series data (quarter/annual).

end_date: date | None | str
End date of the data, in YYYY-MM-DD format. Only applicable for time series data (quarter/annual).

Data

• standard
• federal_reserve

date: date | None | str
The date of the data.

d_y_prod: float | None
Business output, expenditure (product) side. From NIPA tables, Gross Value Added: Total Business: Quantity Index.

d_y_inc: float | None
Business output, measured from income side. Nominal business output is GDI less nominal non-business output. Real business income uses expenditure-side deflator.

d_y: float | None
Output. Average of d_y_prod and d_y_inc (weighted equally). If d_y_inc not yet available, equals d_y_prod.

d_hours: float | None
Hours worked in the business sector. From BLS productivity and cost release.

d_lp: float | None
Business-sector labor productivity, defined as d_y - d_hours. Note: Labor productivity in the BLS productivity-and-cost release equals d_y_prod - d_hours.

d_k: float | None
Capital input. Perpetual inventory stocks calculated from disaggregated quarterly NIPA investment data, then growth rates are weighted by estimated rental prices.

d_lq_bls_interpolated: float | None
Labor composition/quality from BLS. Pre-1979 is interpolated annual BLS MFP estimate of labor composition (interpolated using Denton (1971) relative to changes in hours).

d_lq_aaronson_sullivan: float | None
Labor composition/quality following Aaronson-Sullivan. 1979:Q1 - present follows Aaronson and Sullivan (2001), as extended by Bart Hobijn and Joyce Kwok (FRBSF).

d_lq: float | None
Labor composition/quality actually used. Pre-1979 is d_lq_bls_interpolated, 1979:Q1 onward uses d_lq_aaronson_sullivan.

alpha: float | None
Capital's share of income (ratio between 0 and 1). Based primarily on NIPA data for the corporate sector, assuming private noncorporate factor shares match corporate shares.

d_tfp: float | None
Business sector Total Factor Productivity. Calculated as d_y - alphad_k - (1-alpha)(d_hours+d_lq), i.e., output growth less the contribution of capital and labor.

d_util: float | None
Utilization adjustment for capital and labor. Uses Basu, Fernald, Fisher, and Kimball (2013) estimates applied to quarterly data.

d_tfp_util: float | None
Utilization-adjusted Total Factor Productivity. Calculated as d_tfp - d_util, adjusting for variations in factor utilization.

relative_price: float | None
Relative price growth of 'consumption' to price of 'equipment'. Measures the relative price of non-equipment goods and services to price of equipment (with consumer durables classified as equipment).

inv_share: float | None
Equipment and consumer durables share of business output (ratio between 0 and 1). Represents the proportion of output devoted to equipment investment and consumer durables.

d_tfp_i: float | None
TFP in equipment and consumer durables sector. Calculated from d_tfp assuming that relative price growth reflects relative TFP growth.

d_tfp_c: float | None
TFP in non-equipment business output ('consumption' goods and services). Calculated from d_tfp assuming that relative price growth reflects relative TFP growth.

d_u_invest: float | None
Utilization adjustment in producing investment goods. Uses estimates from Basu, Fernald, Fisher, and Kimball to calculate utilization for producing equipment and consumer durables.

d_u_consumption: float | None
Utilization adjustment in producing non-investment business output ('consumption'). Uses estimates from Basu, Fernald, Fisher, and Kimball to calculate utilization for producing non-investment goods and services.

d_tfp_i_util: float | None
Utilization-adjusted TFP in producing equipment and consumer durables. Calculated as d_tfp_i - d_u_invest.

d_tfp_c_util: float | None
Utilization-adjusted TFP in producing non-equipment business output ('consumption'). Calculated as d_tfp_c - d_u_consumption.

variable: str | None
The variable name (e.g., 'd_y', 'd_tfp', 'd_tfp_util').

variable_title: str | None
Human-readable title for the variable.

full_sample_mean: float | None
Mean value over the full sample period.

past_4_quarters: float | None
Mean value over the past 4 quarters.

past_8_quarters: float | None
Mean value over the past 8 quarters.

since_2019: float | None
Mean value since 2019:Q4.

period_2004_2019: float | None
Mean value for the period 2004:Q4 to 2019:Q4.

period_1995_2004: float | None
Mean value for the period 1995:Q4 to 2004:Q4.

period_1973_1995: float | None
Mean value for the period 1973:Q1 to 1995:Q4.

period_1947_1973: float | None
Mean value for the period 1947:Q1 to 1973:Q1.