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The OECD Productivity Manual: A Guide to the Measurement of Industry-Level and Aggregate Productivity

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  • Paul Schreyer

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    Abstract

    The measurement of productivity is a complex task. The OECD has recently released a comprehensive manual or guide to the measurement of industry-level and aggregate productivity. In the fifth article, Paul Schreyer from the OECD and the author of the OECD productivity manual provides an overview of the manual. He highlights a number of the key issues addressed in the manual, including: the choice of gross output versus value added productivity measures; the need for independence of output from input measures; the importance of adjusting for quality change in existing goods and accounting for new goods in price indices; methods of capturing the skill composition of labour; measurement of capital input; and the interpretation of productivity measures. In terms of the research and development agenda for productivity statistics, Schreyer identifies four priorities: better price indices for output measures by industry, particularly for high technology industries and difficult-to-measure services industries; better data on hours worked by industry; improvement in the quality of data on capital input; and improved input-output tables.

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    File URL: http://www.csls.ca/ipm/2/schreyer-e.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): 2 (2001)
    Issue (Month): (Spring)
    Pages: 37-51

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    Handle: RePEc:sls:ipmsls:v:2:y:2001:5

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    Keywords: Productivity; Productivity Measurement; Measurement; Industry-level; Aggregate; OECD; Choice; Gross Output; Value Added; Input; Quality; Price; Skills; Labour; Labor; Interpretation; Statistics; Capital; Research; OECD Productivity Manual;

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Charles R. Hulten, 2001. "Total Factor Productivity. A Short Biography," NBER Chapters, in: New Developments in Productivity Analysis, pages 1-54 National Bureau of Economic Research, Inc.
    2. Diewert, W E, 1992. "The Measurement of Productivity," Bulletin of Economic Research, Wiley Blackwell, vol. 44(3), pages 163-98, July.
    3. Stefano Scarpetta & Andrea Bassanini & Dirk Pilat & Paul Schreyer, 2000. "Economic Growth in the OECD Area: Recent Trends at the Aggregate and Sectoral Level," OECD Economics Department Working Papers 248, OECD Publishing.
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    Cited by:
    1. Jeremy Smith, 2004. "Aggregate Labour Productivity Growth in Canada and the United States: Definitions, Trends and Measurement Issues," CSLS Research Reports 2004-04, Centre for the Study of Living Standards.
    2. John R. Baldwin & Tarek M. Harchaoui, 2006. "The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead," NBER Chapters, in: A New Architecture for the U.S. National Accounts, pages 439-470 National Bureau of Economic Research, Inc.
    3. Diewert, Erwin, 2007. "The Paris OECD-IMF Workshop on Real Estate Price Indexes: Conclusions and Future Directions," Economics working papers diewert-07-01-03-08-12-12, Vancouver School of Economics, revised 31 Jan 2007.
    4. Dale Jorgenson & Mun Ho & Kevin Stiroh, 2003. "Growth of US Industries and Investments in Information Technology and Higher Education," Economic Systems Research, Taylor & Francis Journals, vol. 15(3), pages 279-325.
    5. W. Erwin Diewert, 2003. "Measuring Capital," NBER Working Papers 9526, National Bureau of Economic Research, Inc.
    6. Nicholas Oulton, 2005. "Ex post versus ex ante measures of the user cost of capital," LSE Research Online Documents on Economics 19885, London School of Economics and Political Science, LSE Library.
    7. Dirk Pilat, 2001. "Productivity Growth in the OECD Area: Some Recent Findings," International Productivity Monitor, Centre for the Study of Living Standards, vol. 3, pages 32-44, Fall.
    8. Edquist, Harald, 2004. "The Swedish ICT Miracle - Myth or Reality," Working Paper Series in Economics and Finance 556, Stockholm School of Economics, revised 29 Mar 2004.
    9. Jeremy Smith, 2003. "International Productivity Comparisons: An Examination of Data Sources," International Productivity Monitor, Centre for the Study of Living Standards, vol. 6, pages 64-71, Spring.
    10. Nicholas Oulton & Sylaja Srinivasan, 2003. "Capital stocks, capital services, and depreciation: an integrated framework," Bank of England working papers 192, Bank of England.
    11. Troy Matheson, 2006. "A more flexible decomposition of productivity growth," Applied Economics Letters, Taylor & Francis Journals, vol. 13(11), pages 695-698.
    12. Haskel, J & Corrado, C & Jona-Lasinio, C & Iommi, M, 2013. "Innovation and intangible investment in Europe, Japan and the US," Working Papers 11139, Imperial College, London, Imperial College Business School.
    13. Diewert, Erwin & Shimizu, Chihiro, 2014. "Alternative Approaches to Commercial Property Price Indexes for Tokyo," Economics working papers erwin_diewert-2014-34, Vancouver School of Economics, revised 14 Jul 2014.
    14. Diewert, Erwin, 2008. "Changes in the Terms of Trade and Canada's Productivity Performance," Economics working papers diewert-08-03-11-11-03-49, Vancouver School of Economics, revised 18 Jul 2008.
    15. Tarkhani, Faouzi & Jean, Jimmy & Harchaoui, Tarek, 2003. "Prosperity and Productivity: A Canada-Australia Comparison," Economic Analysis (EA) Research Paper Series 2003018e, Statistics Canada, Analytical Studies Branch.
    16. Nicholas Oulton & Sylaja Srinivasan, 2005. "Productivity growth in UK industries, 1970-2000: structural change and the role of ICT," Bank of England working papers 259, Bank of England.

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