OECD Workshop on Productivity Multi-factor productivity measurement: –
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Federal Department of Home Affairs FDHA Federal Statistical Office FSO OECD Workshop on Productivity Multi-factor productivity measurement: From data pitfalls to problem solving – the Swiss way Ruth Meier, Director, Economy, State and Social Issues SFSO October 16th, 2006 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Presentation Institutional framework and constraints From the production process … … through the maze of specific issues.. … up to first results Conclusion OECD Workshop on Productivity Ruth Meier, SFSO 2 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Presentation Institutional framework and constraints From the production process … … through the maze of specific issues.. … up to first results Conclusion OECD Workshop on Productivity Ruth Meier, SFSO 3 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Institutional framework and constraints Constraint 1 Flexible accounting framework Heterogeneous information Constraint 2 Unquoted enterprises: lack of regulation/information Constraint 3 Limit statistical burden on enterprises Constraint 4 International comparability: - central concern OECD Workshop on Productivity Ruth Meier, SFSO Additional surveys: neither wishful nor really useful National Accounts OECD manuals 4 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Presentation Institutional framework and constraints From the production process … … through the maze of specific issues.. … up to first results Conclusion OECD Workshop on Productivity Ruth Meier, SFSO 5 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Production process Full-time equivalent s Age-efficiency profile Age-price profile via geometric fixed function Standard Gross capital formation PIM efficiency units Depreciation User Costs Capital stock Asset price Interest rate Depreciation Capital services Index Cost share of capital input Holding gains/ losses Gross Domestic Product (GDP) OECD Workshop on Productivity Ruth Meier, SFSO Hours worked Labor input Cost share of labor input Total factor inputs Multi-factor productivity 6 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Presentation Institutional framework and constraints From the production process … … through the maze of specific issues.. … up to first results Conclusion OECD Workshop on Productivity Ruth Meier, SFSO 7 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Specific issues: Hours worked Gross fixed capital formation Capital stock Standard efficiency units Capital services Labor services User Costs Total factor inputs Gross Domestic Product (GDP) OECD Workshop on Productivity Ruth Meier, SFSO Multi-factor productivity 8 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Specific issues: Capital stock Hours worked Gross fixed capital formation Capital stock Standard Two issues: - efficiency unitsof Lifetimes assets Labor Capital services National Accounts services - Back–calculations GDP / User Costs Historical series of National Total factor Accounts inputs Criteria: Coherent and transparent treatment Gross Domestic Product (GDP) OECD Workshop on Productivity Ruth Meier, SFSO Multi-factor productivity 9 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Specific issues: User Costs Hours worked Standard efficiency units Gross fixed capital formation User Costs Capital stock Asset price Capital services Labor services Interest rate Endogenous Depreciation Holding gains/ losses Total factor inputs Exogenous Switzerland: Average OECD Workshop on Productivity Ruth Meier, SFSO Gross Domestic Product (GDP) Multi-factor productivity 10 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Specific issues: User Costs Hours worked Standard efficiency units Gross fixed capital formation User Costs Capital stock Asset price Capital services Labor services Interest rate Depreciation Holding gains/ losses - RelativeGross volatility of prices Domestic Product - Potentially negative(GDP) user costs Total factor inputs Multi-factor productivity - Fitted Values used in OECD Workshop on Productivity Ruth Meier, SFSO Switzerland 11 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Presentation Institutional framework and constraints From the production process … … through the maze of specific issues.. … up to first results Conclusion OECD Workshop on Productivity Ruth Meier, SFSO 12 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Main results for Switzerland: OECD Workshop on Productivity Ruth Meier, SFSO 13 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Main results for Switzerland: Capital stock components 160.00 Agricultural assets 140.00 120.00 Equipment Construction 100.00 80.00 60.00 40.00 20.00 0.00 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 OECD Workshop on Productivity Ruth Meier, SFSO 14 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Main results for Switzerland: GDP growth decomposed 4.0% MFP 3.0% Contribution of capital input Contribution of labour input 2.0% 1.0% 0.0% -1.0% -2.0% 1992 1993 1994 OECD Workshop on Productivity Ruth Meier, SFSO 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 p 15 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Main results: International comparisons (1) MFP 1991 - 2003 2.5% 2.0% 1.5% 1.0% OECD Workshop on Productivity Ruth Meier, SFSO Finland United Kingdom Australia Sweden France USA Germany Greece Canada New Zealand Belgium Netherlands Japan Italy Spain Switzerland 0.0% Denmark 0.5% 16 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Main results: International comparisons (2) Capitalistic intensity 5.0% 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% OECD Workshop on Productivity Ruth Meier, SFSO Japan Spain United Kingdom United States Sweden Greece Italy Germany Canada France Switzerland Australia Belgium Netherlands New Zealand Finland 0.0% Denmark 0.5% 17 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Presentation Institutional framework and constraints From the production process … … through the maze of specific issues.. … up to first results Conclusion OECD Workshop on Productivity Ruth Meier, SFSO 18 Federal Department of Home Affairs FDHA Federal Statistical Office FSO Conclusion Methodology sound, but… … data shortcomings may impact on results consolidation required Asset lifetimes … new analytical framework and major additional inputs for Interest rates political debate OECD Workshop on Productivity Ruth Meier, SFSO Etc… 19
