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Measuring Productivities for the 38 OECD Member Countries: An Input-Output Modelling Approach

Author

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  • Zacharias Bragoudakis

    (Bank of Greece, 102 50 Athens, Greece
    Department of Economics, National & Kapodistrian University of Athens, 115 27 Athens, Greece)

  • Evangelia Kasimati

    (Bank of Greece, 102 50 Athens, Greece)

  • Christos Pierros

    (Department of Economics, National & Kapodistrian University of Athens, 115 27 Athens, Greece
    INE-GSEE, 115 27 Athens, Greece)

  • Nikolaos Rodousakis

    (Centre of Planning & Economic Research (KEPE), 106 72 Athens, Greece)

  • George Soklis

    (Department of Public Administration, Panteion University, 176 71 Kallithea, Greece)

Abstract

Using a multisectoral model and the latest data from the OECD Input-Output Tables (IOTs-2021 ed.), this article estimates labour and capital productivities of the 38 OECD member countries. As measures of the productivity of labour, we consider the inverse of the vertically integrated labour coefficients, while Perron–Frobenius theorems are employed so as to measure capital productivity. In this respect, the productive technologies and the intersectoral relationships of each economy are taken into account. We further investigate the relationship between productivity, economic efficiency and living standards. Findings indicate that the impact of capital productivity on higher living standards depends on the evolutionary and institutional background of the economy at hand.

Suggested Citation

  • Zacharias Bragoudakis & Evangelia Kasimati & Christos Pierros & Nikolaos Rodousakis & George Soklis, 2022. "Measuring Productivities for the 38 OECD Member Countries: An Input-Output Modelling Approach," Mathematics, MDPI, vol. 10(13), pages 1-21, July.
    • Handle: RePEc:gam:jmathe:v:10:y:2022:i:13:p:2332-:d:854949
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    More about this item

    Keywords

    capital productivity; input-output analysis; labour productivity; OECD member counties; Perron–Frobenius eigenvalues;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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