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A volume index of combined labour and capital inputs for the total economy. The index has been constructed as a weighted average of the rate of change of total hours worked and the rate of change of capital services. Cost shares of inputs averaged over the two periods under consideration serve as weights (Törnqvist index). Price indices for information and communication technology assets are those published by the U.S. Bureau of
Statistics Working Paper N. 14 - 2005/4. Using new sectoral data on investment and capital services we carry out a growth accounting exercise on Spain 1985-2002. We compute the contribution to output and labour productivity growth of employment, non-ICT and ICT capital, labour qualification and Total Factor Productivity. Results are given for 29 different branches; individually and grouped into four clusters according to their ICT
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A volume index of combined labour and capital inputs for the total economy. The index has been constructed as a weighted average of the rate of change of total hours worked and the rate of change of capital services. Cost shares of inputs averaged over the two periods under consideration serve as weights (Törnqvist index). Price indices for information and communication technology assets are those published by national statistical
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Capital services measures have long been recognised as the appropriate concept to capture capital input in production and productivity analysis. However, only few countries’ statistical agencies construct and publish such capital services measures. This paper describes capital services measures developed by the OECD and presents estimation methods and results for the G7 countries. By way of example, the consequences of applying
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According to the 1993 System of National Accounts (SNA93), total hours actually worked is the preferred aggregate measure of labour input for productivity analysis, as it reflects the volume of work engaged per year in self-employment and employee jobs for the production of goods and services by resident units of production. In practice, total hours of work are derived from combining available estimates of annual hours actually worked
Statistics Working Paper N. 9 - 2003/6 - This paper presents the concepts underlying capital services measures, describes estimation methods and produces a first set of results. It also raises a number of outstanding conceptual issues in relation to capital services measures.
English, Excel, 513kb
Growth and productivity are on the policy agenda in most OECD countries. Recent OECD work has highlighted large diversities in growth and productivity as well as a range of policies that could enhance them.
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Article by Paul Schreyer, OECD Statistics Directorate for the "Review of Income and Wealth, Series 48, N.1, March 2002"
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Measures of productivity growth constitute core indicators for the analysis and prospects of economic growth. However, there are many different approaches towards productivity measurement and their calculation and interpretation needs careful consideration, in particular when international comparisons are involved. The OECD Productivity Manual is the first comprehensive guide to the various productivity measures and addresses