On the measurement of productivity growth in the Norwegian National Accounts
This document aims to take a review with critique of the current methodologies for measuring productivity growth at Statistics Norway, with the view of identifying the availability of better methodologies and data sources. In general, many of the currently applied methods are acceptable. However, various measures of labor and total factor productivities are calculated not always in an internally consistent way. In addition, some detailed methods need to be corrected and updated, in line with the framework of modern growth accounting. Based on the review results, a number of comments and suggestions are given for possible improvements in compiling growth and productivity accounts at Statistics Norway in the future. For instance, the current method of calculating capital services for KNR industry should be updated, and the inconsistency across the level of aggregation should be removed.
Authors: Gang Lui