Comment on "Estimating Capital Input for Measuring Business Sector Multifactor Productivity Growth in Canada"

Paul Schreyer ()

International Productivity Monitor, 2012, vol. 24, 73-75

Abstract: This article shows that the large difference of 0.8 per cent percentage points per year between top-down estimates of capital input growth obtained by Diewert and Yu and the bottom-up estimates produced by Statistics Canada for the Canadian business sector over the 1961-2011 period can be interpreted as an reallocation effect due either to inefficiencies in production and or a measurement issue. It is also noted that although user costs of capital are officially recognized in the System of National Accounts, there is no single recommendation on the details of implementation and that moving towards such a recommendation is an objective worth pursuing.

Date: 2012
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