Economic measurement initiative considers output and income growth

“How should output growth and inflation be measured across Space and Time?” asks UNSW Business School’s Professor Erwin Diewert.

He will seek to answer that question at the fifteenth annual workshop of the Economic Measurement Group (EMG), which this year has a strong emphasis on understanding economic growth and its determinants. 

Michelle van der Merwe, from the Reserve Bank of Australia, will also give a talk on “Decomposing Real Domestic Income Growth”, identifying the sources from which Australia’s recent rise in real incomes has been derived.

In particular, the role of the terms of trade improvements will be analysed, highlighting the implications for future income growth, due to the recent deterioration of Australia’s terms of trade. 

Other topics will include the incorporation of ecosystem services into the measurement of productivity, allowing for a more complete picture of economic performance that accounts for environmental degradation, and the adequacy of Australia’s investment in knowledge capital for driving productivity growth in an innovative economy.

The workshop is being organised by the UNSW Business School’s Professor Kevin Fox, who is Director of the Centre for Applied Economic Research. 

"I anticipate a very stimulating day, with genuine engagement between the various parties represented, leading to an improved understanding of economic measurement and t​he potential impact on policy" says Professor Fox.  "We are fortunate to have an outstanding program, featuring some of the foremost academics in the field, along with the active involvement of an impressive range of representatives from government and industry."

Date: Friday, December 4th 2015

Location: AGSM building, UNSW Campus

Program: CAER EMG Workshop

Media contact: Julian Lorkin: 02 9385 9887 | 0405 805 365 |