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Measuring Productivity in the System of National Accounts

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  • Diewert, Erwin

Abstract

The paper reviews some of the measurement problems that are associated with measuring sectoral Total Factor Productivity growth rates. The paper notes that the production accounts in the present System of National Accounts (SNA) need to be extended somewhat in order to be suitable as a data base for measuring sectoral productivity growth rates. In particular, the treatment of exports, imports and indirect taxes is not completely adequate for productivity measurement purposes in the present SNA. Finally, the paper considers some of the problems that are associated with the measurement of banking sector outputs and the System of National Accounts FISIM (Financial Intermediation Services Indirectly Measured) imputations.

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Bibliographic Info

Paper provided by Vancouver School of Economics in its series Economics working papers with number diewert-07-11-16-12-39-23.

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Length: 28 pages
Date of creation: 16 Nov 2007
Date of revision: 16 Nov 2007
Handle: RePEc:ubc:bricol:diewert-07-11-16-12-39-23

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Web page: http://www.economics.ubc.ca/

Related research

Keywords: Total factor productivity growth; production accounts; System of National Accounts; exports and imports in the input output accounts; the measurement;

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References

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  1. Edwin Dean & Michael Harper, 2001. "The BLS Productivity Measurement Program," NBER Chapters, in: New Developments in Productivity Analysis, pages 55-84 National Bureau of Economic Research, Inc.
  2. Jorgenson, Dale W & Fraumeni, Barbara M, 1992. " Investment in Education and U.S. Economic Growth," Scandinavian Journal of Economics, Wiley Blackwell, vol. 94(0), pages S51-70, Supplemen.
  3. Feenstra, Robert C., 1986. "Functional equivalence between liquidity costs and the utility of money," Journal of Monetary Economics, Elsevier, vol. 17(2), pages 271-291, March.
  4. Dennis Fixler, 2009. "Incorporating Financial Services in a Consumer Price Index," NBER Chapters, in: Price Index Concepts and Measurement, pages 239-266 National Bureau of Economic Research, Inc.
  5. W. Erwin Diewert & Ann Marie Smith, 1994. "Productivity Measurement for a Distribution Firm," NBER Working Papers 4812, National Bureau of Economic Research, Inc.
  6. Christensen, Laurits R & Jorgenson, Dale W, 1970. "U.S. Real Product and Real Factor Input, 1929-1967," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 16(1), pages 19-50, March.
  7. Carol Corrado & John Haltiwanger & Dan Sichel, 2005. "Measuring Capital in the New Economy," NBER Books, National Bureau of Economic Research, Inc, number corr05-1.
  8. Fixler, Dennis & Zieschang, Kimberly D, 1991. "Measuring the Nominal Value of Financial Services in the National Income Accounts," Economic Inquiry, Western Economic Association International, vol. 29(1), pages 53-68, January.
  9. Rymes, T K, 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.
  10. 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.
  11. Nancy D. Ruggles & Richard Ruggles, 1970. "INTRODUCTION to "The Design of Economic Accounts"," NBER Chapters, in: The Design of Economic Accounts, pages 1-7 National Bureau of Economic Research, Inc.
  12. Diewert, W E, 1974. "Intertemporal Consumer Theory and the Demand for Durables," Econometrica, Econometric Society, vol. 42(3), pages 497-516, May.
  13. Dennis J. Fixler & Kimberly D. Zieschang, 1992. "User Costs, Shadow Prices, and the Real Output of Banks," NBER Chapters, in: Output Measurement in the Service Sectors, pages 219-243 National Bureau of Economic Research, Inc.
  14. Nancy D. Ruggles & Richard Ruggles, 1970. "The Design of Economic Accounts," NBER Books, National Bureau of Economic Research, Inc, number rugg70-1.
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Cited by:
  1. Robert E. Yuskavage & Erich H. Strassner & Gabriel W. Medeiros, 2008. "Domestic Outsourcing and Imported Inputs in the U.s. Economy: Insights from Integrated Economic Accounts," BEA Papers 0090, Bureau of Economic Analysis.
  2. Susan N. Houseman, . "Offshoring and Import Price Measurement," Upjohn Working Papers and Journal Articles snh20111, W.E. Upjohn Institute for Employment Research.
  3. Robert Inklaar & Marcel P. Timmer & Bart van Ark, 2008. "Data for Productivity Measurement in Market Services: An International Comparison," International Productivity Monitor, Centre for the Study of Living Standards, vol. 16, pages 72-81, Spring.

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