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A Comparison of Gross Output and Value-added Methods of Productivity Estimation

Research memorandum

This memorandum by Trevor Cobbold was released in November 2003.

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Contents

Preliminaries
Cover, Copyright, Contents, Abbreviations

1   Introduction and main points

2   The value-added measure
2.1   Conceptual issues
2.2   Biased estimates of productivity growth
2.3   Contributions to growth
2.4   Interpretation

3   The gross output measure
3.1   Sectoral output
3.2   Aggregation procedure

4   Comparative data requirements

5   Estimating real output

6   Conclusions

References