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New Estimates of Real Income and Multifactor Productivity Growth for the Canadian Business Sector, 1961-2011

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Author Info

  • W. Erwin Diewert

    ()

  • Emily Yu

    ()

Abstract

Using new data from Statistics Canada, this article shows that the multifactor productivity (MFP) performance of the Canadian business sector has been reasonably satisfactory over the past half century. In particular, traditional gross income MFP growth averaged 1.03 per cent per year over the 1961-2011 period. This compares with the official Statistics Canada estimate of 0.28 per cent. The difference was mostly due to significantly higher capital input growth recorded by Statistics Canada. The study finds that quality adjusted labour input growth was the main driver of real income growth, followed by MFP growth, capital input growth, and finally by falling real import prices. The study encountered many data problems which should be addressed in future work on Canadian business sector productivity performance.

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File URL: http://www.csls.ca/ipm/24/IPM-24-Diewert-Yu.pdf
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Bibliographic Info

Article provided by Centre for the Study of Living Standards in its journal International Productivity Monitor.

Volume (Year): 24 (2012)
Issue (Month): (Fall)
Pages: 27-48

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Handle: RePEc:sls:ipmsls:v:24:y:2012:3

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  1. Kohli, Ulrich, 2004. "Real GDP, real domestic income, and terms-of-trade changes," Journal of International Economics, Elsevier, vol. 62(1), pages 83-106, January.
  2. Dale W. Jorgenson, 2012. "The World KLEMS Initiative," International Productivity Monitor, Centre for the Study of Living Standards, vol. 24, pages 5-19, Fall.
  3. Diewart, W Erwin & Morrison, Catherine J, 1986. "Adjusting Output and Productivity Indexes for Changes in the Terms of Trade," Economic Journal, Royal Economic Society, vol. 96(383), pages 659-79, September.
  4. Inklaar, Robert, 2008. "The Sensitivity of Capital Services Measurement: Measure all assets and the cost of capital," GGDC Research Memorandum GD-103, Groningen Growth and Development Centre, University of Groningen.
  5. Ulrich Kohli, 2006. "Real GDP, Real GDI and Trading Gains: Canada, 1981-2005," International Productivity Monitor, Centre for the Study of Living Standards, vol. 13, pages 46-56, Fall.
  6. W. Erwin Diewert, 1980. "Aggregation Problems in the Measurement of Capital," NBER Chapters, in: The Measurement of Capital, pages 433-538 National Bureau of Economic Research, Inc.
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Cited by:
  1. Peter S. Spiro, 2013. "A Sectoral Analysis of Ontario's Weak Productivity Growth," International Productivity Monitor, Centre for the Study of Living Standards, vol. 25, pages 20-35, Fall.

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