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.

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Transcript 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.

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
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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
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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
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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
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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
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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
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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%
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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%
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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…
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