The Dutch Growth Accounts Erik Veldhuizen World KLEMS Conference August 19-20, 2010 Harvard University.

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Presentation transcript:

The Dutch Growth Accounts Erik Veldhuizen World KLEMS Conference August 19-20, 2010 Harvard University

Background First published in 2007 Time series from 1995 onwards Exogeneous and endogeneous model Y-KLEMS and VA-KL 36 industries

Differences with EU-KLEMS Exogeneous rate of return Sectoral output No labour characteristics More capital inputs Laspeyres index

Dutch National Accounts Consistent set of Supply and Use Tables Sector Accounts Labour Accounts Non-Financial Balance Sheets

Use of National Accounts (1) Intermediate Consumption & Output: Supply and Use Tables Consolidation: Input-Output Tables Hours Worked: Labour Accounts

Use of National Accounts (2) Compensation of Employees: Labour Accounts & S&U Tables User Cost: Based on Non- Financial Balance Sheets Taxes & Subsidies: S&U Tables

Problems with National Accounts Independent output measures Capital services for non-market producers Trade & transport margins Renting of movables Labour volume index

MFP in some industries

MFP for more capital inputs in mining and quarrying

Future Work Including Labour Characteristics Extending Time Series Including extra Capital inputs More Industries