Output- versus Expenditure-Based National Accounts for Productivity
The recent versions 8 and 9 of the Penn World Tables provide output-based national accounts measures in addition to the traditional expenditure-based national accounts measures which have been used in international macroeconomic productivity comparisons so far.
This opens the opportunity to compare productivity indicators calculated from both kinds of national accounts measures by means of modern frontier function-based methods. The comparisons can be refined to different regions and time periods. The effects on short-run versus long-run growth rates can be analyzed. Finally differences of the speed of catching-up to the world production frontier function can be assessed.
One IREP student(s) can work on this project.
Pre-requisites or requirements for the project :
Knowledge of growth economics, statistics and regression analysis is required. Familiarity with the R programming system (https://cran.r-project.org) would be advantageous.
Recommended literature and preparation
Bogetoft, P., Otto, L. (2011), Benchmarking with DEA, SFA, and R, New York: Springer.
Feenstra, R.C., Inklaar, R., Timmer, M.P. (2015), The Next Generation of the Penn World Table, American Economic Review, vol. 105, pp. 3150-3182.
See also http://www.rug.nl/ggdc/productivity/pwt/ for the data and detailed documentation.
until December 2018