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Measuring Productivity using the Index Number Approach: An Introduction

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Author Info
Nathan McLellan () (New Zealand Treasury)

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Abstract

This paper provides an introduction to productivity measurement using index number techniques. Attention is given to the construction of productivity series using common index number formulae, the economic and axiomatic approaches to selecting an index number formula, and the use of chaining. Special attention is also given to measuring physical capital inputs and quality adjusted labour inputs. Numerical examples are used throughout the paper to illustrate the analysis.

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File URL: http://www.treasury.govt.nz/publications/research-policy/wp/2004/04-05/twp04-05.pdf
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Publisher Info
Paper provided by New Zealand Treasury in its series Treasury Working Paper Series with number 04/05.

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Length: 26 pages
Date of creation: Jun 2004
Date of revision:
Handle: RePEc:nzt:nztwps:04/05

Contact details of provider:
Postal: New Zealand Treasury, PO Box 3724, Wellington, New Zealand
Phone: +64-4-472 2733
Fax: +64-4-473 0982
Web page: http://www.treasury.govt.nz
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For technical questions regarding this item, or to correct its listing, contact: (Geraldine Bruin).

Related research
Keywords: Productivity measurement; index numbers; capital; quality-adjusted labour inputs;

Other versions of this item:

Find related papers by JEL classification:
C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production

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References listed on IDEAS
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.:
  1. W. Erwin Diewert & Kevin J. Fox, 1999. "Can measurement error explain the productivity paradox?," Canadian Journal of Economics, Canadian Economics Association, vol. 32(2), pages 251-280, April. [Downloadable!] (restricted)
    Other versions:
  2. Martin Neil Baily & Robert J. Gordon, 1988. "The Productivity Slowdown, Measurement Issues, and the Explosion of Computer Power," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(1988-2), pages 347-432. [Downloadable!]
  3. Peter Mawson & Kenneth I Carlaw & Nathan McLellan, 2003. "Productivity Measurement: Alternative Approaches and Estimates," Treasury Working Paper Series 03/12, New Zealand Treasury. [Downloadable!]
  4. Diewert, W. E., 1976. "Exact and superlative index numbers," Journal of Econometrics, Elsevier, vol. 4(2), pages 115-145, May. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, 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.)

  1. Kevin J Fox, 2005. "Returns to Scale, Technical Progress and Total Factor Productivity Growth in New Zealand Industries," Treasury Working Paper Series 05/04, New Zealand Treasury. [Downloadable!]
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This page was last updated on 2009-12-1.

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