US Bureau of Labor Statistics
International Price Program
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NBER Working Papers and Publications
|September 2014||A Prototype BEA/BLS Industry-Level Production Account for the United States|
with Steven Rosenthal, Matthew Russell, Erich H. Strassner, Lisa Usher
in Measuring Economic Sustainability and Progress, Dale W. Jorgenson, J. Steven Landefeld, and Paul Schreyer, editors
GDP by industry statistics provide detailed information on the industry sources of aggregate value added growth, but do not include estimates of the contributions of capital and labor inputs and multifactor productivity (MFP) to economic growth. MFP measures the output per unit of capital, labor, and intermediate inputs, and is an important component of growth in GDP. The official MFP measures provide information on components of economic growth in the market economy, but they do not report detailed information on the nonmarket economy. Differences in concepts and methods used by each respective agency persist due to the nature of each program, but each statistical program depends on the other to prepare its measures. This paper builds on the GDP by industry statistics produced by the B...