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A New Data Set of Quarterly Total Factor Productivity in the Canadian Business Sector

Author

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  • Shutao Cao
  • Sharon Kozicki

Abstract

In this paper, a quarterly growth-accounting data set is built for the Canadian business sector with the top-down approach of Diewert and Yu (2012). Inputs and outputs are measured and used to estimate the quarterly total factor productivity (TFP). In addition, the estimates of annual TFP growth by Diewert and Yu (2012) are revised and updated to reflect changes in the new national economic accounts and national balance-sheet accounts. The quarterly series also provide suitable data for studying short-run dynamics. To demonstrate, a simple vector autoregressive model is estimated to study the responses of hours worked and investment to TFP shocks. Hours worked drop and investment rises in reaction to a positive TFP shock.

Suggested Citation

  • Shutao Cao & Sharon Kozicki, 2015. "A New Data Set of Quarterly Total Factor Productivity in the Canadian Business Sector," Staff Working Papers 15-6, Bank of Canada.
  • Handle: RePEc:bca:bocawp:15-6
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    File URL: https://www.bankofcanada.ca/wp-content/uploads/2015/02/wp2015-6.pdf
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    References listed on IDEAS

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    1. Basu, Susanto & Fernald, John G., 2002. "Aggregate productivity and aggregate technology," European Economic Review, Elsevier, vol. 46(6), pages 963-991, June.
    2. Baldwin, John R. Gu, Wulong Yan, Beiling, 2007. "User Guide for Statistics Canada's Annual Multifactor Productivity Program," The Canadian Productivity Review 2007014e, Statistics Canada, Economic Analysis Division.
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    Cited by:

    1. Cao, Shutao, 2017. "Accounting for productivity growth in a small open economy: Sector-specific technological change and relative prices of trade," Working Paper Series 6203, Victoria University of Wellington, School of Economics and Finance.

    More about this item

    Keywords

    Productivity;

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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