ECONOMIC ANALYSIS AND REPORTING
The Economic Analysis and Reporting Program encompasses macroeconomic statistics research, quality improvements, development of new products, economic analysis and reporting and economic integration and advisory functions. This set of functions is designed to improve the ABS’s capability to produce high quality macroeconomic statistics in the longer term, while addressing emerging priorities in the short term. Analytical activities in the program range from research projects to improve the accuracy and coherence of existing economic statistics and develop new statistical products, through to operational efforts to increase the efficiency of statistical operations.
The program compiles and publishes aggregate market sector and industry level multifactor productivity statistics and conducts research into the measurement and interpretation of these statistics.
Regular publications of the program include:
- annual productivity statistics presented in Australian System of National Accounts (ABS cat. no. 5204.0)
- Experimental Estimates of Industry Multifactor Productivity (ABS cat. no. 5260.0.55.002), an annual release that presents a range of productivity estimates at the industry level.
Additionally, the program produces research or information papers on the following areas:
- productivity measurement
- economic analysis using the Business Longitudinal Database and other microdata sets
- human capital measurement
- periodic reviews and standards upgrades for macroeconomic statistics.
The main medium term development in the program are to:
- Improve productivity estimates by:
- releasing a research paper on the industry sources of Australia's productivity slowdown - due November 2013
- releasing a research paper on the measurement of natural resources input for Australia's Mining industry - due November 2013
- implementing new measures of industry level quality adjusted labour input for the ABS industry multifactor productivity datacube - due end 2013
- Undertake periodic reviews and standards upgrades for macroeconomic statistics including:
- exploring the suitability of administrative data in compiling official economic statistics including implementing estimates of cross border electronic trade - ongoing
- undertaking research into aspects of the quality of macroeconomic and financial statistics arising from various reviews - ongoing
- researching statistical treatments and gathering data for inclusion of emissions trading and carbon credits schemes in economic accounts as they evolve - ongoing.
- Update measures of human capital by:
- releasing a research paper on updated measures of human capital stock and flows - due mid 2014
- releasing a research paper on updated measures of rates of returns to education - due mid 2014.
Michael Beahan, Assistant Statistician, Industry and Productivity Statistics Branch