The OECD Productivity Manual: A Guide to the Measurement of Industry-Level and Aggregate Productivity

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Abstract

This article presents the new OECD Productivity Manual—the first comprehensive OECD guide to productivity measurement since 1966—describing its objectives, scope, and key conceptual contributions. The manual provides accessible guidance for statistical offices and researchers on measuring labour productivity and multi-factor productivity at both industry and aggregate levels. It discusses the links between economic theory and index number theory, addresses the treatment of capital services, and describes desirable properties of productivity measures. The article also highlights the manual’s treatment of the relationship between labour productivity and multi-factor productivity as a tool for growth accounting analysis.

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