KLEMS provides a detailed statistical decomposition on the contributions to output growth, represented by five input categories - capital (K), labour (L), energy (E), materials (M), and services (S). This allows for analysis on the changes to the input mix, such as the role of labour hours and composition of relative capital services or intermediate inputs, observed in industry output growth.
The Australian government's unprecedented fiscal and policy response to the COVID-19 pandemic has challenged some of the underlying assumptions in productivity measurement.
Key impacts have been discussed in the following articles:
- Productivity measurement in the time of a pandemic
- Variations in the Utilisation of Productivity Inputs
For more information on the treatment of government policies in the national accounts, refer to: