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Alternative Output, Input and Income Concepts for the Production Accounts

Author

Listed:
  • W. Erwin Diewert

    (Vancouver School of Economics, University of British Columbia, and School of Economics, UNSW Business School, UNSW Sydney)

  • Kevin J. Fox

    (School of Economics and CAER, UNSW Business School, UNSW Sydney)

Abstract

Definitions of output and input are key to studies of productivity analysis, as they are to the national accounts of countries. This paper systematically reviews alternative definitions at production unit and aggregate levels, illustrating the different perspectives that they provide on production and income, and making the case for their use in understanding different aspects of firm and country economic performance. Classification JEL: D24, E01, E23

Suggested Citation

  • W. Erwin Diewert & Kevin J. Fox, 2022. "Alternative Output, Input and Income Concepts for the Production Accounts," Discussion Papers 2022-05, School of Economics, The University of New South Wales.
    • Handle: RePEc:swe:wpaper:2022-05
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    File URL: http://research.economics.unsw.edu.au/RePEc/papers/2022-05.pdf
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    References listed on IDEAS

    as
    1. Fare, Rolf & Shawna Grosskopf & Mary Norris & Zhongyang Zhang, 1994. "Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries," American Economic Review, American Economic Association, vol. 84(1), pages 66-83, March.
    2. Paul Schreyer, 2001. "The OECD Productivity Manual: A Guide to the Measurement of Industry-Level and Aggregate Productivity," International Productivity Monitor, Centre for the Study of Living Standards, vol. 2, pages 37-51, Spring.
    3. 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.
    4. T. K. Rymes, 1983. "More On The Measurement Of Total Factor Productivity," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 29(3), pages 297-316, September.
    5. John R. Hicks, 1961. "The Measurement of Capital in Relation to the Measurement of Other Economic Aggregates," International Economic Association Series, in: D. C. Hague (ed.), The Theory of Capital, chapter 0, pages 18-31, Palgrave Macmillan.
    6. 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.
    7. Subodh Kumar & R. Robert Russell, 2002. "Technological Change, Technological Catch-up, and Capital Deepening: Relative Contributions to Growth and Convergence," American Economic Review, American Economic Association, vol. 92(3), pages 527-548, June.
    8. , & Diewert, Erwin, 2014. "The Treatment of Financial Transactions in the SNA: A User Cost Approach," Economics working papers erwin_diewert-2014-8, Vancouver School of Economics, revised 20 Feb 2014.
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    Cited by:

    1. Chihiro Shimizu & Erwin Diewert & Koji Nomura, 2023. "Improving the SNA: Alternative Measures of Output, Input, Income and Productivity for China," Working Papers e178, Tokyo Center for Economic Research.

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    More about this item

    Keywords

    Production; Income; System of National Accounts; Productivity; Capital;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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