Annual productivity data

Statistics New Zealand last week released their annual measured sector and individual sector labour and multi-factor productivity data for the year to March 2019.  It isn’t data I tend to focus on, mostly because my interests are substantially in cross-country comparisons and also because my focus is whole-economy rather than on specific sectors and sub-sectors.  … Continue reading Annual productivity data

The Productivity Commission

Writing, somewhat critically, the other day about the latest Productivity Commission paper got me thinking a little more about the Commission itself. I welcomed the decision to set up the Commission, partly in the backwash to the then-government ignoring and thens disbanding the under-resourced one-off exercise in focusing on New Zealand’s productivity failures, the 2025 … Continue reading The Productivity Commission

The Productivity Commission again

The Productivity Commission looks into topics the government of the day asks them to.  The current government asked for a report on issues around the “future of work” (a favoured topic of the current Minister of Finance when he was in Opposition) and the final report is due out next month. The Commission has released … Continue reading The Productivity Commission again

Championing social democracy not productivity

Not unlike the OECD, our Productivity Commission tends to lean left.  Not usually in some overtly partisan sense, but in a bias towards government solutions, a disinclination to focus on government failures as much as “market failures”, and a mentality that is often reluctant to look behind symptoms (which government action can sometimes paper over) … Continue reading Championing social democracy not productivity

Productivity (lack of it) and other things

When I was writing some comments last week on Reserve Bank Deputy Governor Geoff Bascand’s speech in Australia I was playing round with some comparative data and stumbled on this chart. Over the entire period (since 1991) real GDP per capita has grown at exactly the same rate in Australia and New Zealand.   And … Continue reading Productivity (lack of it) and other things

Productivity growth (or lack of it)

In yesterday’s post I included this chart of multi-factor productivity growth data for the 23 advanced countries the OECD produces estimates for. One always has to be a bit careful about MFP estimates, which are only as good as the model (and labour and capital input estimates) used to calculate them.   But when I … Continue reading Productivity growth (or lack of it)

Productivity growth across countries across time

This tweet caught my eye this morning. The trends in falling productivity growth is remarkably similar across advanced economies. @martinwolf_ https://t.co/o4LfQhUnHk pic.twitter.com/KPAWZzeV71 — Adam Tooze (@adam_tooze) September 18, 2019 The chart is from the latest weekly column from Martin Wolf, the economics columnist for the Financial Times.   It is a sobering reminder of what … Continue reading Productivity growth across countries across time

Thoughtful analysis of productivity from the Opposition

The Opposition in the Australian Federal Parliament that is. In my post yesterday, I noted  that Simon Bridges’s latest speech continued the pattern in which our Opposition pretends there is no real structural problem in the New Zealand economy: no decades of productivity underperformance, no near-complete absence of any productivity growth in the last several … Continue reading Thoughtful analysis of productivity from the Opposition

Productivity by the numbers

That is the title of a new paper, intended (it appears) to inaugurate an annual series, from the Productivity Commission.   It is full of interesting tables and charts, and usefully drives home the point –  made repeatedly on this blog, and elsewhere –  that (a) longer-term productivity growth in New Zealand has been poor, … Continue reading Productivity by the numbers

Agricultural sector productivity growth

In the last few weeks, presumably simply by coincidence, I’ve had various comments and emails about productivity growth in the agricultural sector.    The most recent one finally prompted me to dig out the official data and check that my impressions were still supported by the data.  They were.    Agricultural sector productivity growth was … Continue reading Agricultural sector productivity growth