cover image: DATA APPENDIX Cracking the Productivity Code: An

DATA APPENDIX Cracking the Productivity Code: An

16 Jul 2024

To obtain the hours data for market economies, we utilize the share of hours worked in the market economy relative to the total economy in EUKLEMS to project the OECD hours series for the market economy, as shown below: H (A1) HOECD,Mkt = HOECD,Tot × KLEMS,Mkt HKLEMS,Tot Where Tot and Mkt refer to the total economy and market economy respec- tively. [...] The labour 39 AN INTERNATIONAL COMPARISON OF UK PRODUCTIVITY service and capital service volume indices in Germany are missing before 1991, and we rely on the growth rates of labour service and capital service in 2012 EUKLEMS for the extrapolation of the respective time series before 1991. [...] Due to this data limitation, we assume that the labour composition is the same for both the market economy and the total economy in the US. [...] However, the slowdown of the information sector in the ONS data (-3.1%) is about half of the slowdown in EUKLEMS data (-6.2%). [...] The productivity slowdown is the change in average labour productivity growth rates from the pre-GFC to the post-GFC period.

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University of Cambridge
Pages
47
Published in
Canada

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