Emissions, population growth, and the Productivity Commission

Early tomorrow morning the Productivity Commission will be releasing its draft report on how New Zealand can transition to a low emissions economy.   The report was commissioned by the previous government, but this will be the first real test for the Commission in dealing with the new government –  for whom this is an … Continue reading Emissions, population growth, and the Productivity Commission

The Treasury reminds us that GDP – and productivity – really is almost everything

In recent times, we’ve heard endlessly from The Treasury and the government about the emphasis they want to place on the “living standards framework” Treasury has been cooking up for some years for a left-wing government (the previous government had little interest).  We are constantly told that there should be less emphasis on GDP-based measures. … Continue reading The Treasury reminds us that GDP – and productivity – really is almost everything

Not much encouragement in the productivity data

New Zealand’s weak productivity performance has been an on-and-off theme of discussion for decades.   We’ve been falling behind for 70 years now, something that was recognised by expert observers almost 60 years ago. In all that time, there has never been any sustained period when we’ve made any progress in closing the gap.   … Continue reading Not much encouragement in the productivity data

Robertson on productivity: not much basis for confidence

I’m not going to write much about the Productivity Hub (Productivity Commission, MBIE, Treasury, and Statistics New Zealand) conference yesterday on “Technological Change and Productivity”.   Not all of it was even about productivity, not all of it was even relevant to New Zealand (there was a genuinely fascinating presentation from a US academic on … Continue reading Robertson on productivity: not much basis for confidence

National single-handedly lifting parliamentary productivity

The Productivity Commission has been working on a report on state sector productivity, commissioned by the previous National-led government.    I’m not sure that everyone simply working harder was quite what they had in mind. But judging by the number of written parliamentary questions lodged in the less than three weeks since the opening of … Continue reading National single-handedly lifting parliamentary productivity

What does The Treasury want to know? Not about productivity apparently

Last week I joined 80 or 90 other economists and people from related disciplines, drawn from the public sector, universities, consultancies, and think tanks, together with a few commentators, at an event organised by The Treasury.  It was billed as “Wealth and wellbeing: High quality economics in the twenty-first century”.  They were looking for input. … Continue reading What does The Treasury want to know? Not about productivity apparently

Productivity and employment

With 30 seconds thought it is pretty obvious that if the least productive 10 per cent of our workforce simply dropped out and stayed home, then across the whole economy average GDP per hour worked would increase, all else equal.   All else equal, the productivity of any particular individual still employed wouldn’t change –  … Continue reading Productivity and employment

Productivity growth still missing in action

It was Paul Krugman, winner of the economics pseudo-Nobel Prize who famously captured one of the fairly basic insights of economics.  When it comes to material living standards in the medium to longer-term, if productivity isn’t everything, it is almost everything.   The terms of trade bob around, but probably won’t do much (harm or … Continue reading Productivity growth still missing in action