INDUSTRY-LEVEL PRODUCTIVITY MEASUREMENT AND THE 2008 SYSTEM OF NATIONAL ACCOUNTS

Authors


  • Note: We are indebted to two anonymous referees for insightful comments. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the OECD or its member countries.

Paul Schreyer, OECD Statistics Directorate, 2, rue André Pascal, 75775 Paris Cedex, France (paul.schreyer@oecd.org).

Abstract

The 2008 System of National Accounts recognizes capital services as the conceptually correct way to measure the input of capital into production. This allows setting up an integrated system of industry-level and aggregate productivity accounts that are consistent with the 2008 SNA. The paper discusses the new aspects in the 2008 SNA and sets out such an integrated system, based on Jorgenson's aggregate production possibility frontier and gross output-based industry productivity measures. Recent results for industry productivity measures for the United States complete the picture.

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