Abstract
Productivity change is generally measured in index form as ratio of output quantity index over input quantity index. Several statistical agencies publish quarterly as well as annual productivity index numbers or growth percentages, constructed from what appear to be basically the same sources. This raises the question whether, apart from measurement errors, consistency between quarterly and annual indices can be expected. This chapter explores, from a theoretical perspective, the options for obtaining consistency between annual and quarterly (or more general: between period and subperiod) measures of productivity change.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Recall that for any two strictly positive real numbers a and b their logarithmic mean is defined by \(\mathit {LM}(a,b) \equiv (a - b)/\ln (a/b)\) when a ≠ b, and LM(a, a) ≡ a.
References
Balk, B.M. 2008. Price and Quantity Index Numbers: Models for Measuring Aggregate Change and Difference. New York: Cambridge University Press.
Denton, F.T. 1971. Adjustment of Monthly or Quarterly Series to Annual Totals: An Approach Based on Quadratic Minimization. Journal of the American Statistical Association 66: 99–102.
Diewert, W.E. 2008. The Bern OECD Workshop on Productivity Analysis and Measurement: Conclusions and Future Directions. In Productivity Measurement and Analysis: Proceedings from OECD Workshops, OECDiLibrary; Swiss Federal Statistical Office, Neuchâtel.
Eldridge, L.P., M.E. Manser, and P.F. Otto. 2008. U. S. Quarterly Productivity Measures: Uses and Methods. In Productivity Measurement and Analysis: Proceedings from OECD Workshops (OECDiLibrary; Swiss Federal Statistical Office, Neuchâtel).
Haine, W., and A. Kanutin. 2008. Main Sources of Quarterly Labour Productivity Data for the Euro Area. In Productivity Measurement and Analysis: Proceedings from OECD Workshops (OECDiLibrary; Swiss Federal Statistical Office, Neuchâtel).
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Balk, B.M. (2021). Annual and Quarterly Measures. In: Productivity. Contributions to Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-75448-8_4
Download citation
DOI: https://doi.org/10.1007/978-3-030-75448-8_4
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-75447-1
Online ISBN: 978-3-030-75448-8
eBook Packages: Economics and FinanceEconomics and Finance (R0)