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INDUSTRY‐LEVEL PRODUCTIVITY MEASUREMENT AND THE 2008 SYSTEM OF NATIONAL ACCOUNTS
Author(s) -
JORGENSON DALE W.,
SCHREYER PAUL
Publication year - 2013
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.2012.00516.x
Subject(s) - productivity , national accounts , economics , multifactor productivity , production (economics) , aggregate (composite) , production–possibility frontier , productivity model , capital (architecture) , measure (data warehouse) , partial productivity , frontier , industrial organization , econometrics , macroeconomics , total factor productivity , computer science , history , materials science , archaeology , database , composite material
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.