|
Activity Number:
|
96
- Advances in the Measurement of Inputs, Output, and Productivity in the US Federal Statistical System
|
|
Type:
|
Topic Contributed
|
|
Date/Time:
|
Monday, August 8, 2022 : 8:30 AM to 10:20 AM
|
|
Sponsor:
|
Quality and Productivity Section
|
|
Abstract #322925
|
|
|
Title:
|
TFP Accounting with Secondary Production
|
|
Author(s):
|
Jon Samuels*
|
|
Companies:
|
Bureau of Economic Analysis
|
|
Keywords:
|
Productivity;
Economic growth;
Industry statistics;
National accounting
|
|
Abstract:
|
When establishments engage in secondary production, measured productivity growth at the industry level reflects the production processes of the primary and secondary products and reallocation between these products within an industry. If secondary products are different from primary, confounding the composition of production and productivity (TFP) and has the potential to obscure analysis of the underlying reasons for changes in aggregate TFP. We construct a new production account where outputs and inputs have been moved from their primary to their secondary industry to assess productivity growth for products instead of industries. Disentangling TFP growth in industries and products 1) helps shed light on the origins of changes in aggregate TFP, 2) provides useful information in analyzing international competitiveness where trade is driven by product competitiveness, 3) allows for cleaner aggregation of TFP growth from commodities to broad components of final demand (e.g. investment and consumption).
|
Authors who are presenting talks have a * after their name.
Back to the full JSM 2022 program
|
