The article proposes the use of Confirmatory Factor Analysis techniques as a new approach to the measurement problem of faculty productivity. For this purpose, the author uses an analysis of scholarly productivity with data of 513 professors in the field of psychology in North America, between 1997 and 1998. Based on this analysis it is possible to identify three latent variables that describe the productivity of the sample: one factor that captures the inflation of all the observed variables, one factor that measures individual productivity and a factor that measures the joint productivity of faculty members. The findings suggest the need of novel approaches to policies for measurement and support of faculty productivity. These policies should be oriented not only to increase the productivity rates but also to decrease the probability of inflation.