Measuring Economic Growth and Productivity: Foundations, KLEMS Production Models, and Extensions presents new insights into the causes, mechanisms and results of growth in national and regional accounts. It demonstrates the versatility and usefulness of the KLEMS databases, which generate internationally comparable industry-level data on outputs, inputs and productivity. By rethinking economic development beyond existing measurements, the book's contributors align the measurement of growth and productivity to contemporary global challenges, addressing the need for measurements as well as the Gross Domestic Product.
All contributors in this foundational volume are recognized experts in their fields, all inspired by the path-breaking research of Dale W. Jorgenson.
• Demonstrates how an approach based on sources of economic growth (KLEMS – capital, labor, energy, materials and services) can be used to analyze economic growth and productivity.
• Includes examples covering the G7, E7, EU, Latin America, Norway, China, Taiwan, Japan, Korea, India and other South Asian countries.
• Examines the effects of digital, information, communication and integrated technologies on national and regional economies.
Table of Contents
1. Economic growth: a different view – Edward A. Hudson (View Abstract)
2. Expanding the conceptual foundation, scope, and relevance of the US national accounts: The intersection of theory, research, and measurement – J. Steven Landefeld (View Abstract)
3. Tax policy and resource allocation – Kun-Young Yun (View Abstract)
4. Sources of growth in the world economy: A comparison of G7 and E7 economies – Khuong M. Vu (View Abstract)
5. European productivity in the digital age: Evidence from EU KLEMS – Robert Inklaar, Kirsten Jäger, Mary O'Mahony, and Bart van Ark (View Abstract)
6. Manufacturing productivity in India: The role of foreign sourcing of inputs and domestic capacity building – K.L. Krishna, Bishwanath Goldar, Deb Kusum Das, Suresh Chand Aggarwal, Abdul A. Erumban, Pilu Chandra Das (View Abstract)
7. An international comparison on TFP changes in ICT industry among Japan, Korea, Taiwan, China, and the United States – Chi-Yuan Liang and Ruei-He Jheng (View Abstract)
8. Losing steam? - An industry origin analysis of China's productivity slowdown – Harry X. Wu (View Abstract)
9. Growth origins and patterns in the market economy of mainland Norway, 1997-2014 – Gang Liu (View Abstract)
10. Progress on Australia and Russia KLEMS – Ilya Voskoboynikov, Derek Burnell and Thai Nguyen (View Abstract)
11. Toward a BEA-BLS integrated industry-level production account for 1947-2016 – Lucy P. Eldridge, Corby Garner, Thomas F. Howells, Brian C. Moyer, Matthew Russell, Jon D. Samuels, Erich H. Strassner, and David B. Wasshausen (View Abstract)
12. Benchmark 2011 integrated estimates of the Japan-US price-level index for industry outputs – Koji Nomura, Kozo Miyagawa and Jon D. Samuels (View Abstract)
13. The impact of information and communications technology investment on employment in Japan and Korea – Kyoji Fukao, Tsutomu Miyagawa, Hak Kil Pyo, Keunhee Rhee, Miho Takizawa (View Abstract)
14. Economic valuation of knowledge-based capital: An international comparison – Matilde Mas, André Hofman and Eva Benages (View Abstract)
15. Measuring consumer inflation in a digital economy – Marshall Reinsdorf and Paul Schreyer (View Abstract)
16. Intangible capital, innovation, and productivity a la Jorgenson evidence from Europe and the United States – Carol Corrado, Jonathan Haskel, Massimiliano Iommi, and Cecilia Jona-Lasinio (View Abstract)
17. Getting smart about phones: New price indexes and the allocation of spending between devices and services plans in Personal Consumption Expenditures – Ana Aizcorbe, David M. Byrne and Daniel E. Sichel (View Abstract)
18. Accounting for growth and productivity in global value chains – Marcel P. Timmer and Xianjia Ye (View Abstract)
19. Emissions accounting and carbon tax incidence in CGE models: Bottom-up versus top-down – Richard J. Goettle, Mun S. Ho and Peter J. Wilcoxen (View Abstract)
20. Analyzing carbon price policies using a general equilibrium model with household energy demand functions – Jing Cao, Mun S. Ho and Wenhao Hu (View Abstract)
21. GDP and social welfare: An assessment using regional data – Daniel T. Slesnick (View Abstract)
22. Accumulation of human and market capital in the United States, 1975-2012: An analysis by gender – Barbara M. Fraumeni and Michael S. Christian (View Abstract)