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Productivity Measurement and Analysis

image of Productivity Measurement and Analysis

Productivity measurement and analysis are the main topics addressed in this book, which brings together contributions presented and discussed in two international workshops organized by the Statistics Directorate and the Directorate for Science, Technology and Industry (DSTI) of the OECD. The first workshop was organised jointly by the OECD with Fundaccion BBVA and the Instituto Valenciano de Investigaciones Económicas and held in Madrid in October 2005, and the second one was organized jointly by the OECD and the Swiss Federal Statistical Office and the State Secretary for Economic Affairs of Switzerland and held in Bern in October 2006. The two workshops brought together representatives of statistical offices, central banks and other branches of government in OECD countries that are engaged in the analysis and the measurement of productivity developments at aggregate and industry levels.

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Main Sources of Quarterly Labour Productivity Data for the Euro Area

Labour productivity and its measurement is an important issue for the European Central Bank (ECB). Growth in productivity is key for non-infl ationary growth. In addition to structural (annual) data, the ECB requires relatively highly aggregated and timely data on productivity growth for short-term economic analysis. The ECB has for several years calculated euro area productivity estimates and published them in its Monthly Bulletin. The calculation used is GDP per person employed, taken from the European System of Accounts 1995 (ESA95) national accounts. While this calculation is acknowledged to be a less than perfect measurement, there is a scarcity of other suitable data for the euro area, especially data fulfi lling the timeliness requirement. The ECB also uses a number of supplementary euro area productivity indicators from both quantitative and qualitative surveys, which are explained in this note.

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