Productivity change using growth accounting and frontier-based approaches - Evidence from a Monte Carlo analysis

► This study compares the accuracy of a number of productivity measurement approaches. ► This is achieved through simulation experiments that adopt different assumptions. ► Frontier-based approaches usually, but not always, outperform growth accounting. ► Parametric approaches are not as accurate if the functional form is miss-specified. ► Deterministic approaches perform adequately even under conditions of (modest) noise.