A Consistent Accounting of U.S. Productivity Growth

55 Pages Posted: 19 Dec 2004

See all articles by Joe Beaulieu

Joe Beaulieu

Board of Governors of the Federal Reserve - Division of Research and Statistics - Industrial Output Section; National Bureau of Economic Research (NBER)

Eric J. Bartelsman

Vrije Universiteit Amsterdam; Tinbergen Institute; IZA Institute of Labor Economics

Date Written: September 2004

Abstract

This paper is an exploration in the relative performance and sources of productivity growth of U.S. private businesses across industries and legal structure. In order to assemble the disparate data from various sources to develop a coherent productivity database, we developed a general system to manage data. The paper describes this system and then applies it by building such a database. The paper presents updated estimates of gross output, intermediate input use, and value added using the BEA's GPO data set. It supplements these data with estimates of missing data on intermediate input use and prices for the 1977-1986 period, and it concords these data, which are organized on a 1972 SIC basis, to the 1987 SIC in order to have consistent time series covering the last twenty-four years. It further refines these data by disaggregating them by legal form of organization. The paper also presents estimates of labor hours, labor quality, investment, capital services and, consequently, multifactor productivity disaggregated by industry and legal form of organization, and it analyzes the contribution of various industries and business organizations to aggregate productivity. The paper also reconsiders these estimates in light of the surge in spending in advance of the century-date change.

Keywords: Databases, legal form of organization, productivity

JEL Classification: D24, E23

Suggested Citation

Beaulieu, J. Joseph and Bartelsman, Eric J., A Consistent Accounting of U.S. Productivity Growth (September 2004). FEDS Working Paper No. 2004-55, Available at SSRN: https://ssrn.com/abstract=633181 or http://dx.doi.org/10.2139/ssrn.633181

J. Joseph Beaulieu (Contact Author)

Board of Governors of the Federal Reserve - Division of Research and Statistics - Industrial Output Section

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National Bureau of Economic Research (NBER)

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Eric J. Bartelsman

Vrije Universiteit Amsterdam ( email )

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Tinbergen Institute ( email )

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IZA Institute of Labor Economics

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Germany

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