Re-Estimating Real Output for Service Industries in Australia
AbstractThis paper examines the current national accounts measure of real output for five major service industries in Australia. It finds that real output measures for insurance services; banking services; non-bank financial services; and education services are unsatisfactory. Alternative estimates based on acceptable output proxies are presented for these industries for the period 1986/87-1993/94. The estimates indicate that insurance, banking and non-bank financial services have grown more quickly than previously thought, while education services have grown less quickly than earlier estimates suggested. The effect on GDP of these estimates is also presented.
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Bibliographic InfoPaper provided by Victoria University, Centre of Policy Studies/IMPACT Centre in its series Centre of Policy Studies/IMPACT Centre Working Papers with number g-124.
Date of creation: Dec 1997
Date of revision:
insurance services; financial services; education services; communication services; service industries; real output measures; input- output industries;
Find related papers by JEL classification:
- E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
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- George Verikios, 1997. "Productivity in Australian Education between 1986/87 and 1993/94," Centre of Policy Studies/IMPACT Centre Working Papers g-123, Victoria University, Centre of Policy Studies/IMPACT Centre.
- George Verikios, 1998. "Estimating the behaviour of Productivity in Government Administration Services in Australia," Centre of Policy Studies/IMPACT Centre Working Papers g-126, Victoria University, Centre of Policy Studies/IMPACT Centre.
- George Verikios, 1997. "Measuring Output of Government Administration, Defence and Property and Business Services: Some Estimates for Australia," Centre of Policy Studies/IMPACT Centre Working Papers g-127, Victoria University, Centre of Policy Studies/IMPACT Centre.
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