European Commission, DG Economic and Financial Affairs
July 2018 – October 2019
Within this project, wiiw created a comprehensive set of reliable data for productivity measures and growth accounting. The work went in various aspects beyond the data that were officially available at this time, notably regarding the length of time series, the consistent application of industry and asset breakdowns, the quality adjustment of labour input measures and the respective attribution of wage shares, estimations of investments, consumption of fixed capital and capital stock. The strong need for such a database has long been recognised and underlies the development of the EU KLEMS project, which was successfully concluded in 2009 as an FP6-funded research project. Wihin this service contract, wiiw updated the existing EU KLEMS database, extended it by an additional set of information on intangible assets, explored ways to integrate these measures into the growth accounting framework and provided results of such an exercise, distinguishing a statistical from an analytical module. Moreover, wiiw provided an analytical paper identifying the most important recent trends of the productivity dynamics in Europe and it’s determinants, with a particular focus on the role of intangible assets. The dataset has been published on a dedicated website (www.euklems.eu) in October 2019.