Definitions for "Total Factor Productivity"
Keywords:  tfp, solow, hicks, hinders, inputs
A measure of the economic efficiency of a firm's operations. TFP is defined as the ratio of outputs to inputs.
see productivity (economic)
A measure of the output of an industry or economy relative to the size of all of its primary factor inputs. The term, and its acronym TFP, often refers to the growth of this measure, as measured by the Solow residual. See also Hicks-neutral technical progress.