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Technical Change

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Definition: Technical change is a change in the amount of output produced from the same inputs. Such a change is not necessarily technological; it might be organizational, or the result of a change in a constraint such as regulation, prices, or quantities of inputs.

According to Jorgenson and Stiroh (May 1999 American Economic Review p.110), sometimes total factor productivity (TFP) can be a synonym for technical change. A possible measure is output per unit of factor input. Jorgenson and Stiroh also have an explanation of how it is definitionally possible for how a technological revolution not to lead to technical change as measured in these ways.

(Econterms)

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