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Workshop on Productivity Measurement: From Data Pitfalls to Problem Solving – The Swiss Way

This presentation discusses the institutional framework and constraints in measuring productivity, including specific issues and first results. It also highlights additional surveys, national accounts, and the importance of international comparability.

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Workshop on Productivity Measurement: From Data Pitfalls to Problem Solving – The Swiss Way

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  1. OECD Workshop on ProductivityMulti-factor productivity measurement: From data pitfalls to problem solving – the Swiss way Ruth Meier, Director, Economy, State and Social Issues SFSOOctober 16th, 2006

  2. Presentation • Institutional framework and constraints • From the production process … • … through the maze of specific issues.. • … up to first results • Conclusion

  3. Presentation • Institutional framework and constraints • From the production process … • … through the maze of specific issues.. • … up to first results • Conclusion

  4. Additional surveys: neither wishful nor really useful National Accounts OECD manuals 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

  5. Presentation • Institutional framework and constraints • From the production process … • … through the maze of specific issues.. • … up to first results • Conclusion

  6. Full-time equivalents Hours worked Standard efficiencyunits Total factor inputs Capital services Gross fixed capital formation Labor input User Costs Capital stock Assetprice Depreciation Holding gains/ losses Interestrate Gross Domestic Product (GDP) Multi-factor productivity Production process Age-efficiency profileAge-price profilevia geometric function Index PIM Depreciation Cost share of capital input Cost share of labor input

  7. Presentation • Institutional framework and constraints • From the production process … • … through the maze of specific issues.. • … up to first results • Conclusion

  8. Hours worked Standard efficiencyunits Total factor inputs Capital services Gross fixed capital formation Labor services User Costs Capital stock Gross Domestic Product (GDP) Multi-factor productivity Specific issues:

  9. Hours worked • Two issues: • Lifetimes of assets  National Accounts • Back–calculations  GDP / Historical series of National AccountsCriteria: Coherent and transparent treatment Standard efficiencyunits Total factor inputs Capital services Gross fixed capital formation Labor services User Costs Gross Domestic Product (GDP) Multi-factor productivity Specific issues: Capital stock Capital stock

  10. Hours worked Standard efficiencyunits Total factor inputs Capital services Gross fixed capital formation Labor services Assetprice Depreciation Holding gains/ losses Interestrate Gross Domestic Product (GDP) Multi-factor productivity Specific issues: User Costs User Costs Capital stock Endogenous Exogenous Switzerland: Average

  11. Hours worked Standard efficiencyunits Total factor inputs Capital services Gross fixed capital formation Labor services Assetprice Depreciation Holding gains/ losses Interestrate Gross Domestic Product (GDP) Multi-factor productivity Specific issues: User Costs User Costs Capital stock - Relative volatility of prices- Potentially negative user costs- Fitted Values used in Switzerland

  12. Presentation • Institutional framework and constraints • From the production process … • … through the maze of specific issues.. • … up to first results • Conclusion

  13. Main results for Switzerland:

  14. Main results for Switzerland: Capital stock components

  15. Main results for Switzerland: GDP growth decomposed

  16. Main results: International comparisons (1)

  17. Main results: International comparisons (2)

  18. Presentation • Institutional framework and constraints • From the production process … • … through the maze of specific issues.. • … up to first results • Conclusion

  19. Conclusion Methodology sound, but… … data shortcomings may impact on results •  consolidation required • … new analytical framework and major additional inputs for political debate Asset lifetimes Interest rates Etc…

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