Jason Annabel (Economic Statistics Research Section)¹
The Australian Bureau of Statistics (ABS) is undertaking a program of research and analysis to enhance measures of non-market economic output in the Australian National Accounts². The central measurement problem is a lack of meaningful prices for non-market output. This paper outlines the approaches considered and the preferred approach of using costs of production data as a proxy for prices. This allows quality change over time to be captured but only implicitly. National Statistical Organisations (NSOs) accept that using costs as a proxy for prices is an acceptable solution to a difficult measurement problem.
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- I would like to thank Helen Baird, Christopher Hinchcliffe, Jacqui Jones, AJ Lanyon, Joe Murphy, Luisa Ryan, Michael Smedes and Kristen Stone for their comments which have improved this paper.