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A Canadian Business Sector Data Base and New Estimates of Canadian TFP Growth

Author

Listed:
  • Diewert, Erwin
  • Yu, Emily

Abstract

Using new data from Statistics Canada, the paper shows that the productivity performance of the business sector of the Canadian economy has been reasonably satisfactory over the past 51 years. In particular, traditional gross income Total Factor Productivity (TFP) growth averaged 1.026 percentage points per year over the period 1961-2011. The focus of the study is on the real income generated by the business sector of the Canadian economy. The growth of quality adjusted labour input growth was the main driver of growth in real income followed by TFP growth, followed by growth in capital input and then by falling real import prices. However, in recent years, the contribution of falling real import prices turned out to be more than twice as important as capital deepening. The study encountered many data problems which should be addressed in future work on Canadian business sector productivity performance.

Suggested Citation

  • Diewert, Erwin & Yu, Emily, 2012. "A Canadian Business Sector Data Base and New Estimates of Canadian TFP Growth," Economics working papers erwin_diewert-2012-29, Vancouver School of Economics, revised 27 Nov 2012.
    • Handle: RePEc:ubc:bricol:erwin_diewert-2012-29
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    File URL: http://faculty.arts.ubc.ca/ediewert/dp1204.pdf
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    Citations

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    Cited by:

    1. W. Erwin Diewert & Emily Yu, 2012. "New Estimates of Real Income and Multifactor Productivity Growth for the Canadian Business Sector, 1961-2011," International Productivity Monitor, Centre for the Study of Living Standards, vol. 24, pages 27-48, Fall.

    More about this item

    Keywords

    Total Factor Productivity; Multifactor Productivity; real income; terms of trade effects; measurement of capital; measurement of inventory change; use;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects

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