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EO Sources - Notes to statistical annex tables 24-25: Key supply-side data

 

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Table 24 Potential GDP, employment and capital stock
Table 25 Structural unemployment, wage shares and unit labour costs

Annex Table 24 - Potential GDP, employment and capital stock

Definition and Notes: Potential GDP is estimated using a production function method with the exact specification varying across countries depending on data availability. For most countries potential output is estimated using data on the capital stock, total factor productivity and potential employment, which in part depends on estimates of the structural rate of unemployment (NAIRU). For countries where relevant component data are not available, potential output estimates are based on filtered trend values of actual GDP.  It should be noted that potential output estimates are subject to significant margins of error.
For further details see Giorno et al. (1995), Richardson et al (2000)Turner et al (2001)Beffy et al. (2006) and Gianella et al. (2008) and Guichard and Rusticelli (forthcoming).
The definition of employment can be found in the notes to Annex Tables 13, 14 and 15. Capital stocks of the total economy (less housing services) are developed by the OECD Statistics Directorate using data from national sources.
Related links:  National Accounts , The 1993 System of National Accounts, Glossary 

Last updated:  December 2011

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Annex Table 25 - Structural unemployment, wage shares and unit labour costs

Definition: OECD estimates of structural rates of unemployment are defined as the non-accelerating inflation rate of unemployment (NAIRU) and derived for each Member country using the methods as described in Richardson et al (2000)Turner et al (2001)Beffy et al. (2006) and Gianella et al. (2008) and Guichard and Rusticelli (forthcoming). It should be noted that estimated NAIRUs are subject to significant margins of error.
NAIRU estimates relate to unemployment rates as defined in table 13. Unit labour costs refer to the total economy and are calculated as employee compensation per unit of real output.
Related links:  National Accounts , The 1993 System of National Accounts, Glossary 

Last updated:  December 2011

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