[August 9th draft]
The 2008 World Congress on National
Accounts and Economic Performance Measures for Nations
May 12–17,
2008
Key Bridge Marriott (Arlington, VA—minutes from Washington D.C.)
Organized by Richard Freeman
(Harvard University and NBER) and Alice Nakamura (University of Alberta)
Photos from the 2008 World Congress taken and prepared by the Keio University economist,
Koji Nomura, available here
Monday, May 12
May 12 Evening Program
Capital View Ballroom, Key Bridge Marriott Hotel
Located on the 14th floor
(essentially the top floor of the hotel) with panoramic views of Georgetown, the Potomac
River and Washington, D.C.
Master
of Ceremonies for the evening of May 12: Leonard Nakamura (Federal
Reserve Bank of Philadelphia)
6:00-6:45 Welcome Reception for the Congress -- just outside the Capital View Ballroom
6:45-7:30 DINNER
7:45-8:00 Session Chair: Leonard Nakamura (Federal
Reserve Bank of Philadelphia)
7:30-7:45 Alice Nakamura (University of Alberta) and Richard
Freeman (Harvard University and NBER)
"Official
Statistics—The Challenge and Hope”
by R. Freeman
(Harvard University and NBER), and A. Nakamura and M. Percy (University of Alberta)
7:45-8:00 Masahiro Kuroda (President, Economic and
Social Research Institute, Cabinet Office, Government
of
Japan, and Keio University)
Announcement of the 2008 Laureates of the Society of Official Economic Statistics:
W. Erwin Diewert and Dale W. Jorgenson
“The Parents of Modern Growth Accounting and Index
Numbers”
Masahiro Kuroda, Chair of the
2008 World Congress on Economic Performance Measures for Nations Award
Committee and the person who will present part 1 of this six part award for
outstanding contributions to the development of official statistics for
nations, explains the committee’s selection:
“Our two colleagues,
Erwin Diewert and Dale Jorgenson , did
provide the seminal beginnings for much that has become so accepted in the
fields of growth accounting and index numbers that we all now use these
insights and methods no longer stopping to remember who created them. In
addition, Erwin and Dale both nurtured and raised their numerous intellectual
progeny, year after year, through countless meetings that they traveled to
participate in, and through all the help they gave over the years to their
academic colleagues and students and statistical agency colleagues trying to
learn more about the making and use of official statistics. The Committee for
the 2008 World Congress on National Accounts and Economic Performance Measures
for Nations, of which I am the Chair, wishes to convey our profound
appreciation and respect to Erwin Diewert and Dale Jorgenson for their career long contributions to official statistics,
which we see as a pillar of modern democratic societies.”
8:20-10:00 Panel I on the Role of Official Statistics in a Modern Society
Session
Chair: Leonard Nakamura (Federal Reserve Bank of Philadelphia)
Steve Landefeld (BEA)
“Official Statistics
and the Age of Turbulence” [presentation
file]
Michael
Ward (author of Quantifying the
World, and former Principal Economist in the
Development
Data Group of the World Bank)
“The
Common Ground; The Quiet Triumph of the
UN International Statistical System” [presentation file]
Martin Eiglsperger (European Central Bank)
“Some Background Information about Official Statistics in the European
Union (EU)”
[presentation file]
Masahiro
Kuroda (Japanese Government and Keio University)
“Structural Reform
in the Japanese Official Statistical System” [presentation
file]
Keith Hall (Commissioner,
Bureau of Labor
Statistics)
“A US Perspective” [presentation
file]
10:00-10:30 Social Time
Tuesday, May 13
Organized by Christina Wang (Federal
Reserve Bank of Boston)
and Leonard Nakamura (Federal Reserve Bank
of Philadelphia)
May 13 Morning Program
In front of Potomac Ballroom (Main floor)
7:30-8:30 Registration and Continental breakfast
(If you wish, you may pick up something to
eat and bring it in to the conference room with you.)
Please move into the conference room
before 8:30, as we need to begin exactly then.
Failure to start on time, or running over
on your time, will inevitably result in someone else losing time.
Potomac Ballroom (Main floor)
8:30-8:35 Welcoming Remarks on behalf of the
Congress Organizing Committee
Ephraim
Leibtag (Economic
Research Service for the
US
Department of Agriculture)
8:35-8:55 Congress Keynote Address
Marshall Reinsdorf (BEA)
“Effects of Terms of
Trade Gains and Tariffs Changes on the Measurement of U.S. Productivity Growth”
[presentation file] [abstract]
by R.C.
Feenstra, M.B. Reinsdorf, and M.J. Slaughter
8:55-9:00 Welcoming Remarks on behalf of the
May 13 Program Organizers
Christina Wang (Federal Reserve Bank of Boston)
May 13 Session 1: Intangibles
Session Chair: Erwin Diewert (University of British Columbia and NBER)
9:00-9:20 Ellen R. McGrattan (Federal
Reserve Bank of Minneapolis and NBER)
“Intangible Capital in Macroeconomic Modeling”
[additional]
[additional 2] [presentation file]
by E.R. McGrattan
(Federal Reserve Bank of Minneapolis and NBER) and E.C. Prescott (Arizona State University, Federal Reserve Bank of Minneapolis and NBER)
9:20-9:40 Bart Hobijn (Federal
Reserve Bank of New York)
“Quality: The Embodied Intangible” [presentation file] [related]
9:40-10:00 Dan Sichel (Federal Reserve Board of Governors)
“Some Views on the Importance of Measurement”
____________________
10:00-10:20 COFFEE BREAK
May 13 Session 2: Microdata Analysis
Session Chair: Leonard Nakamura (Federal Reserve Bank of Philadelphia)
10:20-10:40 James McAndrews (Federal Reserve Bank of New York)
“Examples of Micropayments Data” [presentation
file]
10:40-11:00 Kasper
Roszbach (Sveriges Riksbank)
“Microdata:
Collecting and Integrating Them into a Central Bank’s Research and Policy” [presentation file]
11:00-11:20 John Haltiwanger (University of Maryland and NBER)
“Micro and Macro Data Integration and Consistency”
[presentation file]
11:20-11:35 Commentator for May 13 Sessions 1 and 2
Susanto Basu (Boston College and NBER) [presentation
file]
____________________
May 13 Luncheon Program
Capital View Ballroom (14th floor)
11:45-12:15 LUNCH
12:15-12:45 World Congress of Economic Measurement
Laureate Address
Introduction: Steve Landefeld (BEA)
2008 Laureate Dale Jorgenson (Harvard University and NBER)
“Information
Technology and the American Productivity Resurgence” [persentation
file]
May 13 Afternoon Program
Potomac Ballroom (Main floor)
May 13 Session 3: Surveys and Forecasts
Session Chair: Paul Schreyer (OECD)
1:00-1:20 Raymond Owens (Federal Reserve
Bank of Richmond)
“Collecting and
Interpreting Survey Information: The Richmond Fed’s Experience”
1:20-1:40 Sébastien Pérez-Duarte (European Central Bank)
“A
Prospective Euro Area Survey on Household Finances: Policy Needs and
Preparatory Work” [presentation file] [abstract]
by S. Pérez-Duarte and J. Slacalek
(European Central Bank)
1:40-2:00 Michael Kiley (Federal Reserve
Board of Governors)
“A
Comparison of Forecast Performance between Federal Reserve Staff
Forecasts,
Simple Reduced-Form Models, and a DSGE Model” [presentation file]
by R.M. Edge, M.T. Kiley and J.-P. Laforte
(Federal Reserve Board of Governors)
2:00-2:10 Commentator for May 13 Session 3
Claudia R. Sahm (Federal Reserve Board) [presentation
file]
____________________
2:10-2:30 COFFEE BREAK
May 13 Session 4: Real-Time Data and Analysis
Session Chair: Leonard Nakamura (Federal Reserve Bank of Philadelphia)
2:30-2:50 Tom Stark (Federal Reserve Bank of Philadelphia)
“Real-Time Data at the Federal
Reserve Bank of Philadelphia” [presentation
file]
2:50-3:10 Simon van Norden (HEC Montréal)
“Measuring Trends and Gaps in Real Time”
[presentation
file] [additional]
3:10-3:30 Robert Tetlow (Federal Reserve Board
of Governors)
“Some Implications
of Mismeasurement for Model Uncertainty and Monetary Policy” [presentation file]
3:30-3:50 Domenico Giannone (European
Central Bank)
“Now-Casting Economic Activity” [additional] [additional 2] [presentation file]
3:50-4:00 Commentator for May 13 Session 4
Dean
Croushore (University of Richmond) [presentation
file]
____________________
4:00-4:20 COFFEE BREAK
May 13 Session 5: Hard-to-Measure Industries
Session Chair: Christina Wang (Federal Reserve Bank of Boston)
4:20-4:40 Charles Steindel (Federal
Reserve Bank of New York)
“Measuring
the Impact of Securitization on Imputed Bank Output” [presentation file] [abstract]
by A. Ashcraft and C. Steindel (Federal
Reserve Bank of New York)
4:40-5:00 David Lebow (Federal Reserve Board
of Governors)
“Inflation Measurement and Monetary Policy”
[presentation file]
____________________
May 13 Session 6: Concluding Panel
Session Chair: Christina Wang (Federal Reserve Bank of Boston)
5:00-5:20 John Fernald (Federal Reserve Bank
of San
Francisco)
“Productivity Measurement and Monetary
Policy: A Selective Review of Recent Experience”
5:20-5:40 Dave Stockton (Federal
Reserve Board of Governors)
“The National Accounts and Monetary Policy”
5:40-6:00 Blaise Gadanecz (Bank for
International Settlements and The Irving Fisher Committee on Central Bank Statistics)
“Central Bank Policymaking: the
Statistical Challenge and the Irving Fisher Committee” [presentation
file]
6:00-6:10
Concluding Remarks on behalf of the
May 13 Program Organizers
Leonard Nakamura (Federal Reserve Bank of Philadelphia)
____________________
May 13 Evening Program
Capital View Ballroom (14th floor)
A Celebration of EU KLEMS and
KLEMS Research
Master of Ceremonies for the Evening of May 13: Paul
Schreyer (OECD)
6:15-7:00 DINNER
7:00-8:45 The KLEMS Lectures
Session Chair: Paul Schreyer (OECD)
The KLEMS Keynote Address: Bart van Ark (Conference Board)
“The Productivity Gap between Europe and the U.S.: Trends and Causes” [abstract]
by B. van Ark (Conference Board), M. O’Mahony (University of Birmingham)
and M. Timmer (University of Groningen)
Alice Nakamura (University of Alberta): “The KLEMS Story”
Wulong Gu (Statistics Canada): “An Update on KLEMS Data at Statistics Canada” [presentation file]
Mun Ho (Resources for the Future): “Industry Origins of the American Growth Resurgence” [presentation file]
Michael J. Harper (Bureau of Labor Statistics):
“Multifactor Productivity Measures for U.S. Non-Manufacturing Industry Groups, 1987–2005” [presentation file]
by M.J. Harper, B. Khandrika and R. Kinoshita (Bureau of Labor Statistics), and S. Rosenthal (Bureau of Labor Statistics)
9:00-9:15 Presentation of the “K” to Erwin Diewert and Dale Jorgenson and induction of new members to the KLEMS Galaxy of the 2008 Official Statistics Stars by “World Congress Awards"
Committee Member Arnold Zellner (University of Chicago)
9:15-10:30 Social Time
Wednesday, May 14
May 14 Morning Program
In front of Potomac Ballroom (Main floor)
7:30-8:30 Continental breakfast (and registration for
newcomers)
Potomac Ballroom
May 14 Session 1: Capital Measurement, Productivity and Growth
Session Chair: Dale Jorgenson (Harvard University and NBER)
8:30-8:55 Paul Schreyer (OECD)
“Capital
Measures and the National Accounts”
[presentation file]
8:55-9:15 Hak K. Pyo (Seoul National University)
“The
Estimation of Industry-Level Capital Stock for Emerging-Market and Transition
Economies” [presentation
file]
9:15-9:35 Harry X Wu (The Hong Kong Polytechnic University)
“Measuring Capital Input in Chinese Industry and Implications for China’s Industrial Growth Performance, 1949–2005” [presentation file]
9:35-9:55 Barbara Fraumeni (University of Southern Maine and NBER)
“Productive
Highway Capital Stocks and the Contribution of Highways to Economic Growth”
[presentation file]
[additional]
9:55-10:15 Arnold J. Katz (BEA)
“Accounting for
Obsolescence: An Evaluation of Current NIPA Practice” [presentation file] [abstract]
10:15-10:35 Eldon Ball (USDA)
“Capital
Input in OECD Agriculture: A Multilateral Comparison”
[presentation
file]
by V.E. Ball, W.A. Lindamood, and R. Nehring (USDA)
and C. San Juan Mesonada (Universidad Carlos III de Madrid,
Spain
)
____________________
10:35-10:55 COFFEE BREAK
May 14 Session 2: Beyond Capital
Session Chair: Paul Sullivan (Bureau of Labor
Statistics)
10:55-11:25 Bert Balk (Erasmus University Rotterdam and Statistics
Netherlands
)
“Measuring
Productivity Change without Neoclassical Assumptions” [presentation
file]
11:25-11:45 Laura Alfaro (Harvard University)
“Why Doesn’t Capital Flow from Rich To
Poor Countries? An Empirical Investigation” [presentation
file]
L. Alfaro (Harvard University), S. Kalemli-Ozcan (University of Houston) and V. Volosovych (Florida
Atlantic University)
11:45-12:05 Julia Lane (National Science Foundation)
“Reaching for the Stars: Who Pays for Talent in
Innovative Industries” [presentation
file]
by F. Andersson (Cornell University), M. Freedman (University of Maryland),
J. Haltiwanger (University of Maryland and NBER), J. Lane (National Science Foundation)
and K. Shaw (Stanford University and NBER)
1:55-2:15 Erik
Thorbecke (Cornell University)
“The Impact of Globalization on the
World’s Poor” [presentation
file]
by M. Nissanke and E. Thorbecke (Cornell University)
____________________
May 14 Luncheon Program
Capital View Ballroom (14th floor)
12:30-1:15 LUNCH
May 14th luncheon speakers on employment,
happiness and poverty in a changing world:
Session Chair: Jack Triplett (Brookings Institution)
1:15-1:35 Richard Freeman (Harvard University and NBER)
“Informal Employment in Economic Growth
and National Accounts” [background]
1:35-1:55 Betsey Stevenson (University of Pennsylvania)
“Economic Growth
and Happiness: Reassessing the Easterlin Paradox” [presentation
file]
by B. Stevenson and J.
Wolfers
12:05-12:25 Gary Solon (Michigan State
University and NBER)
“The Ins and
Outs of Cyclical Unemployment”
[presentation file]
by M.W. Elsby, R. Michaels and G. Solon
May 14 Afternoon Program
Parallel sessions held in the designated rooms
May 14 Session 3A: Productivity and Growth I (Location: Potomac A)
Session Chair: Dale Jorgenson (Harvard University and NBER)
2:45-3:05 Danny
Leung (Bank of
Canada
)
“What Affects MFP in
the Long Run? Evidence from Canadian Industries”
[presentation
file] [abstract]
by D. Leung and Y. Zheng (Bank of
Canada
)
3:05-3:25 Mari
Kangasniemi (National Institute of Economic and Social Research,
UK
)
“The
Economic Impact of Migration - Productivity Analysis for Spain and the UK” [presentation file]
by M. Kangasniemi (National Institute of Economic and Social Research, UK),
M. Mas (University of Valencia, Spain), C. Robinson (National Institute of Economic and Social Research, UK), and L. Serrano (University of Valencia, Spain)
3:25-3:45 Gilbert Cette (Bank of France and Université de la Méditerranée)
“A Comparison
of Productivity Growth in France, Japan, the United Kingdom and the
United States over the Past Century” [presentation
file] [abstract]
by G. Cette (Bank of France and Université de la
Méditerranée), Y. Kocoglu (Université du Sud
Toulon-Var) and J. Mairesse (CREST (ENSAE) and
UNU-MERIT (Maastricht University))
3:45-4:05 Karen Wilson (Statistics
Canada
)
“New Developments in the Canadian KLEMS Program”
4:05-4:20 COFFEE BREAK
4:20-4:40 Lawrence J. Lau (The Chinese University of Hong
Kong)
“Measuring
the Chinese Economy” [abstract]
4:40-5:00 Hyunbae
Chun (Sogang University)
“Total Factor Productivity in Korea and
International Comparisons”
[presentation file]
by H. Chun (Sogang University), H.K. Pyo (Seoul National University) and
K.H. Rhee (Korea Productivity Center
5:00-5:20 Masahiro Kuroda (Economic and Social Research Institute, Japanese
Government and Keio University)
“Measurement
of TFP by Commodity Level and Structural Change in
Japan
” [presentation file]
5:20-5:50 Commentator for May 14 Session 3A
Michael Denny (University of Toronto)
____________________
May 14 Session 3B: Work and Household Wealth in a Changing
Economy (Location: Potomac B)
Session Chair: Richard Freeman (Harvard University and NBER)
2:45-3:05 Christos Genakos (Cambridge University)
“Management Practices across the
US
, Europe and Asia” [presentation
file]
by N. Bloom (Stanford), C. Genakos (Cambridge), R. Sadun (LSE) and J. Van Reenen (LSE)
3:05-3:25 Lucy P.
Eldridge and Sabrina W. Pabilonia (Bureau of Labor Statistics)
“Are Those Who Bring Work Home Really Working
Longer Hours?
Implications for
BLS Productivity Measures (Updated to include 2006)” [presentation
file] [abstract]
3:25-3:45 Susan Houseman (W.E. Upjohn Institute for Employment Research)
“Do Temporary Help Jobs Improve Labor
Market Outcomes for Low-Skilled Workers?
Evidence
from Random Assignments”
[presentation
file] [abstract]
by D. Autor (MIT) and S. Houseman (W.E. Upjohn
Institute)
3:45-4:05 Stephen
A. Woodbury (Michigan State University)
“Emergency Extended Benefits and Unemployment
Duration:
How Sensitive Are the Estimates to Econometric
Assumptions and Data Quality?”
by M.A. Allgrunn (University of South Dakota) and
S.A.
Woodbury (Michigan State University)
4:05-4:20 COFFEE BREAK
4:20-4:40 Edward Wolff (New York University and NBER)
“Accounting for Wealth in the Measurement
of Household Income” [presentation file]
[abstract]
by E.N. Wolff (New York University and NBER) and A. Zacharias (The Levy Economics
Institute)
4:40-5:00 Sudeshna
Maitra (York University)
“Who Are the Indian Middle
Class? A Mixture Model of Class Membership Based on Durables
Ownership” [presentation
file]
5:00-5:20 Anastasia
Semykina (Florida State University)
“Perceptions
of Economic Insecurity: Evidence from Rural and Urban Workers in Russia,
1995-2004” [presentation file]
by S.J. Linz (Michigan State University) and A. Semykina (Florida State University)
5:20-5:50 Session Chair’s remarks and
general discussion
____________________
May 14 Session 3C: Capital Measurement and Intangible
Inputs (Location: Potomac C)
Capital Measurement and Intangible Inputs
Session Chair: Paul Schreyer (OECD)
2:45-3:05 Wulong Gu (Statistics Canada)
“Multifactor Productivity in Canada: An Evaluation of Alternative Methods of Estimating Capital
Services” [presentation file]
by John R. Baldwin and Wulong Gu (Statistics Canada)
3:05-3:25 Baoline Chen (BEA) and Peter
Zadrozny (Bureau of Labor Statistics)
“Further Model-Based Estimates of
US
Total Manufacturing Production Capital and
Technology for 1949-2005” [abstract]
[presentation]
3:25-3:45 Itsuo Sakuma (Senshu University)
“On the Treatment of Intangible Assets
in National Accounting” [presentation file]
3:45-4:05 Carol Corrado (Conference Board)
“Some New ‘Stylized Facts’ about
U.S.
Economic Growth”
C. Corrado (Conference Board) and C. Hulten (University of Maryland)
4:05-4:20 COFFEE BREAK
4:20-4:40 B.K. Atrostic (Center for Economic
Studies,
U.S.
Census Bureau)
“Measuring Intangibles and Innovative Activities” [presentation
file] [abstract]
4:40-5:00 Nazim Belhocine (Queens University)
“Treating Intangible Inputs
as Investment Goods: the Impact on Canadian
GDP” [presentation file]
5:00-5:20 Benjamin Bridgman (BEA)
“Do Intangible Assets Explain High US Foreign Direct
Investment Returns?” [abstract] [presentation file]
5:20-5:50 Session Chair’s
remarks and general discussion
____________________
2:45-5:50 May 14 Session 3D: A Panel Session
on the ICP and PPP Estimates (Location: Potomac D)
Session Organizers and Co-Chairs: Alan Heston (University of Pennsylvania and NBER) and
Fred Vogel (World Bank)
[For those unfamiliar with this program, the
International Comparison Program (ICP) is a global statistical initiative that
produces internationally comparable price levels, expenditure values, and
Purchasing Power Parity (PPP) estimates informing users such as national policy
makers, economists, international organizations and academics about the
relative purchasing power of citizens of countries. The PPP between two countries is the rate at which the currency of one country
needs to be converted into that of a second country to ensure that a given
amount of the first country’s currency will purchase the same volume of goods
and services in the second country as it does in the first. The collection of
price data and calculation of PPPs in over 110 countries of the world is
coordinated by the ICP Global Office in the World Bank. ICP results combined
with the Eurostat-OECD PPP Program bring the total number of participating
countries to about 145, making it the largest international data collection
exercise in the world today. Preliminary results of the most recent ICP update
exercise were released at the end of 2007. The final data tables were released
on the ICP website on February 26, 2008 with the final publication became available in April
2008.
See
http://siteresources.worldbank.org/ICPINT/Resources/ICPreportprelim.pdf.]
____________________
2:45-3:15 Yuri Dhikanov (World Bank)
“A Summary of the Final Results from the 2005 Round
for the ICP” [presentation
file]
3:15-5:50
ICP Expert Panel Discussion
Erwin
Diewert
(University of British Columbia and NBER), Alan Heston (University of Pennsylvania
and NBER), Peter Hill (Consultant), Robert
Lipsey (City University of New York and NBER),
Prasada Rao (University of Queensland), Bart van Ark (Conference Board), and
Kim Zieschang (International
Monetary Fund).
May 14 Session 3E: Expert Seminar Session on Index Number Theory I (Location: The Francis Scott
Key Ballroom Salon A
Session Chair: Robert Hill (University of Graz,
Austria
)
2:45-3:05 Ludwig von
Auer (Universität Trier)
“The Measurement
of Macroeconomic Price Level Changes” [presentation]
[abstract]
3:05-3:25 Carlo Milana (Institute of Studies and Economic Analysis)
“Chain Consistent Tight Bounds of True Index Numbers
of Productivity:
An Application to EUKLEMS Data” [presentation
file] [background]
[abstract]
3:25-3:45 Nicholas Oulton (London School of Economics)
“Chain Indices of the Cost of Living and the
Path-Dependence Problem: an Empirical Solution” [presentation
file] [abstract]
3:45-4:05 Marcus
Scheiblecker (The Austrian Institute for
Economic Research – WIFO)
“Chain-Linking in
Quarterly National Accounts and the Business Cycle” [presentation file] [abstract]
4:05-4:20 COFFEE BREAK
4:20-4:40 Kam Yu (Lakehead University)
“Welfare Effect of a Price
Change: The Case of Lotto 6/49” [presentation
file]
by K. Yu and X. Xu (Lakehead University)
4:40-5:00 Jan de Haan (Statistics Netherlands)
“Approximating
Retrospectively a Superlative Price Index
When Not All Expenditure Data
Are Available” [presentation
file] [abstract]
by B.M. Balk (Erasmus University Rotterdam
and Statistics Netherlands), J. de Haan
(Statistics
Netherlands
) and C.B. Hansen (United Nations Economic
Commission for Europe)
5:00-5:20 Bert Balk (Erasmus University Rotterdam and Statistics
Netherlands
)
“Searching
for the Holy Grail of Index Number Theory”
[presentation file]
5:20-5:50 Commentator for May 14 Session 3E
Marshall Reinsdorf (BEA)
____________________
May 14 Session 3F: Finance, Trade and Productivity (Location: The Francis Scott Key Ballroom
Salon B)
Session Chair: Jón Steinsson (Columbia University and NBER)
2:45-3:05 Robert Inklaar (University of Groningen in the
Netherlands
)
“Financial Dependence and Industry Growth
in Europe:
Better Banks and Higher Productivity”
[presentation file]
by R. Inklaar and M. Koetter (University of Groningen)
3:05-3:25 Jianmin Tang (Industry
Canada
)
“Off-Shoring and Productivity: A
Micro-Data Analysis”
[abstract]
[presentation file]
by J. Tang and H. de
Livramento
3:25-3:45 Nancy H. Chau (Cornell University)
“Shadow Pricing Market
Access: A Trade Benefit Function Approach”
by N.H. Chau (Cornell University) and R. Färe (Oregon State University)
3:45-4:05 Anne P. Villamil (University of Illinois at Champaign)
“The Impact of
Owner Characteristics and Institutions on Firms” [presentation
file]
by N. Herranz, S. Krasa, and A.P. Villamil (University of Illinois at Champaign)
4:05-4:20 COFFEE BREAK
4:20-4:40 Ramdane Djoudad (Bank of
Canada
)
“Household Sector Indebtedness” [presentation
file]
by S. Dey, R. Djoudad and Y. Terajima (Bank of
Canada
)
4:40-5:00 Raoul Minetti (Michigan State University)
“Foreign Lenders in Emerging Economies” [presentation
file]
by Matteo Iacoviello (Boston College) Raoul Minetti (Michigan State University)
5:00-5:20 Hagen Kim (Texas A&M University)
“Estimating the Term
Structure of Interest Rates with Money, Habit Formation and
Asset Market
Segmentation”
(Kim’s presentation will also draw on a second paper: “A Monetary Explanation of the Term
Structure of Interest Rates and Bond Risk Premia” by
H. Kim and A.J. Moon)
5:20-5:50 Session Chair’s
remarks and general discussion
____________________
May 14 Evening Program
Capital View Ballroom (14th floor)
ICP at 40 Celebration ![](ProgramApril30_files/image001.gif)
Masters of Ceremonies for the evening of May 14: Alan
Heston (University of Pennsylvania) and Alice Nakamura (University of Alberta)
6:00-7:00 DINNER (wine, beer, sparkling water and hors
d’oeuvres on the tables when you arrive!)
7:30-8:00 World Congress of Economic Measurement Laureate
Address
Introduction: Larry Lau (The Chinese University of Hong
Kong)
2008 Laureate Erwin Diewert (University of British Columbia and NBER)
“New Methodological Developments for the International Comparison Program”
[presentation file] [abstract]
8:00-8:15 Presentation of the “L” and induction of new members to the ICP Galaxy
of the 2008 Official
Statistics Stars List by World Congress Awards
Committee Member, Lawrence J. Lau,
President and Vice-Chancellor, The Chinese University of Hong Kong
8:15-8:30 Birthday Cake candle blowing
8:30-9:30 Cake eating, while other ICP warriors share their
tales.
Remarks by Alan Heston, Betina Aten, Robert Summers,
Anita Summers and others
9:30-10:30 Social Time
Thursday, May 15
May 15 Morning Program
In front of Potomac Ballroom (Main floor)
7:30-8:30 Continental breakfast (and registration for
newcomers)
Potomac Ballroom
May 15 Session 1: Price Behavior and Measurement
Session Chair: Susan Houseman (W.E. Upjohn
Institute for Employment Research)
8:30-8:50 Aviv Nevo (Northwestern University)
“Consumer Behavior and the Consumer
Price Index” [presentation file]
by R. Griffith (University College London and IFS), E.
Leibtag
(Economic Research Service,
USDA),
A. Leicester (University College London and IFS), A. Nevo (Northwestern
University
and NBER)
8:50-9:10 Emi Nakamura (Columbia University and NBER) and Jón Steinsson (Columbia University and NBER)
“Five Facts about Prices: A Reevaluation of Menu
Cost Models” [presentation file]
9:10-9:30 John
Greenlees and Robert McClelland (Bureau of Labor Statistics)
“Price
Differentials across Outlets in Consumer Price Index Data, 2002-2006” [presentation file]
[abstract]
9:30-9:50 Tarek Harchaoui (Statistics
Canada
)
“The Behaviour of Consumer Prices in
Canada
, 1995-2006” [abstract]
by T.
Harchaoui, C. Michaud and J. Moreau (Statistics
Canada
)
____________________
9:50-10:10 COFFEE BREAK
May 15 Session 2: Outsourcing, Economic Growth, and Productivity
Measurement
Session Chair: Michael
Horrigan (Bureau of Labor Statistics)
10:10-10:30 Robert Yuskavage (BEA)
“Outsourcing and
Imported Inputs in the U.S. Economy: Insights from Integrated Economic Accounts” [presentation file]
by R.E. Yuskavage, E.H. Strassner and G.W. Medeiros
(BEA)
10:30-10:50 Anne Polivka (Bureau of Labor Statistics)
“Manufacturers’
Outsourcing to Employment Services” [presentation file]
by M. Dey (Bureau of Labor Statistics), S. Houseman
(W. E. Upjohn Institute for
Employment Research), and A. Polivka (Bureau of Labor
Statistics)
10:50-11-10 Christopher Kurz (Federal Reserve
Board)
“Outsourcing and U.S. Economic Growth:
The Role of Imported Intermediate Inputs” [presentation file]
by C. Kurz and P. Lengermann (Federal Reserve Board)
11:10-11:30 Bill Alterman (Bureau of Labor
Statistics)
“Globalization and Price
Measurement Challenges and Options” [presentation
file]
____________________
11:30-12:35 May 15 Session 3: Panel Discussion on the Growth of Imported
Intermediate Inputs:Measurement Issues and Priorities
Session Chair: Michael
Horrigan (Bureau of Labor Statistics)
Panel members include Keith Hall (Bureau of
Labor Statistics), Steve Landefeld (BEA), Thomas Mesenbourg (U.S.
Census Bureau), and Lee Price (House Appropriations Committee staff).
____________________
May 15 Luncheon Program
Capital View Ballroom (14th floor)
12:45-1:30 LUNCH
![](ProgramApril30_files/image002.jpg)
Picture taken in 1992 in Edmonton,
Canada
by daughter Alice’s husband, Masao Nakamura.
1:30-2:30 Guy H. Orcutt Memorial Lecture
Session Chair: Dale Jorgenson (Harvard and
NBER), a former Harvard student of Guy Orcutt
Amihai Glazer (University of California at Irvine)
“Guy H. Orcutt: A former Ph D. student’s reflections”
William D. Nordhaus (Yale and NBER), a former colleague and friend of Guy Orcutt
"Index Numbers, Economic Theory, and
Global Warming” [background
paper]
May 15 Afternoon Program
Parallel sessions held in the designated rooms
May 15 Session 4A: The System of National Accounts: Concepts and Evolution (Location: Potomac A)
Session Chair: Steve Landefeld (BEA)
2:45-3:05 Carol Carson (Consultant)
“The Way Forward”
3:05-3:25 Brent Moulton (BEA)
“The
System of National Accounts for the
New Economy: Prospect and Retrospect.”
[presentation]
3:25-3:45 Frits Bos (CPB
Netherlands
Bureau for Economic Policy Analysis)
“The Value Added of the National Accounts
in View of its Different Roles and Uses” [presentation
file] [abstract]
[supplemental]
3:45-4:05 Reimund Mink (European Central Bank)
“ECB/Eurostat Work on Pensions in the
Context of the SNA Update” [presentation
file]
4:05-4:20 COFFEE BREAK
4:20-4:40 Peter Hill (Consultant)
“Concepts
and Boundaries”
5:00-5:20 Anne Harrison (Editor, SNA Update)
“An Editor’s Reflections”
5:20-5:50 Karen Wilson (Statistics
Canada
)
“Re-focusing the Canadian SNA to meet the needs of Today and the Future”
____________________
May 15 Session 4B, Part 1: Outsourcing, Trade and Productivity (Location: Potomac B)
Session Chair: Mina Kim (Bureau of Labor
Statistics)
2:45-3:05 Ryan Macdonald (Statistics
Canada
)
“Canadian and US Real
Income Growth: A Reversal of Fortunes” [presentation
file] [abstract]
3:05-3:25 Catherine
Morrison Paul (University of California at Davis)
“Outsourcing
and Technology Transfer” [presentation
file] [abstract]
3:25-3:45 Jan De Loecker (New York University and NBER)
“Product
Differentiation, Multi-Product Firms and Estimating the Impact of
Trade Liberalization on Productivity”
3:45-4:05 Arti Grover (Delhi School of Economics and Princeton University)
“The Indian Business Process Outsourcing Industry: An
Evaluation of Firm-Level Performance” [presentation
file]
4:05-4:20 COFFEE BREAK
May 15 Session 4B,
Part 2: Foreign Direct Investment–Patterns and Implications
for
U.S.
Workers
(Location: Potomac B)
Session Chair: Subal Kumbhakar (SUNY Binghamton)
4:20-4:40 Laura Alfaro (Harvard University and NBER)
“Intra-Industry Foreign Direct Investment”
[presentation file]
by Laura Alfaro (Harvard University and NBER) and Andrew Charlton (London School of Economics)
4:40-5:00 Bradford Jensen (Georgetown University and Peterson Institute for International Economics)
“Vertical Integration in Services at
U.S.
Multinational Firms”
by J.B. Jensen (Georgetown University and Peterson Institute for International Economics)
and
C. Mann (Brandeis University and Peterson Institute for International Economics)
5:00-5:20
Elizabeth Weber Handwerker and Mina Kim (Bureau of Labor Statistics)
“A Discussion of the Challenges of Matching FDI and
Trade in Services Data from BEA with BLS Data on Employment Patterns”
5:20-5:40 Sharon Brown (Bureau of Labor
Statistics)
“Identifying Business
Functions and Business Process Involved in Mass Layoffs in the United States”
[presentation file]
5:40-5:50 Session Chair’s closing remarks for the
May 15 Session 4B, Parts 1 and 2
____________________
May 15 Session 4C: Price Behavior (Location: Potomac C)
Session Chair: John Greenlees (Bureau of Labor Statistics)
2:45-3:05 Jan van Dalen (Erasmus University, Rotterdam)
“Price Indices for
Marine Sport Charter Contracts” [presentation file] [abstract]
by A. Veenstra and J. van
Dalen
3:05-3:25 Harry Paarsch (University of Iowa)
“Rent-Extracting Prices for Timber in
British Columbia”
3:25-3:45 Leonard Nakamura (Federal Reserve Bank of Philadelphia)
“Wal-Mart Prices: Explanation and Implications” [presentation
file]
by A.O. Nakamura (University of Alberta), L. Nakamura (Federal Reserve Bank of Philadelphia)
and M.
Prud’Homme (Public Works
Canada
)
3:45-4:05 Ana María Herrera (Michigan State University)
“Why Are Gasoline Prices Sticky: A Test of Alternative
Theories of Price Adjustment” [presentation file]
by Christopher Douglas and Ana María Herrera (Michigan State University)
4:05-4:20 COFFEE BREAK
4:20-4:40 Asli Leblebicioglu (North Carolina State University)
“A Regime Switching
Analysis of Exchange Rate Pass-through” [presentation
file]
4:40-5:00 Heidrun Gudmundsdottir (Statistics
Iceland
)
“Electronic
Data Collection Methods: the Use of Transaction Data for PPI”
[presentation file] [abstract]
by H. Guðmundsdóttir., R. Guðnason
and G.R. Jónsdóttir (Statistics
Iceland
)
5:00-5:20 Emi Nakamura (Columbia University and NBER)
“Pass-Through in Retail and Wholesale” [presentation file] [background
paper]
5:20-5:50 Commentator for May 15 Session 4C
John Greenlees (Bureau of Labor Statistics)
____________________
May 15 Session 4D: PPPs, Terms of Trade, output and Productivity
Measurement
(Location: Potomac D)
Session Chair: Robert Hill (University of Graz,
Austria
)
2:45-3:10 W. Erwin Diewert (University of British Columbia and NBER)
“Changes
in the Terms of Trade and Canada’s Productivity Performance” [presentation
file] [abstract]
3:10-3:35 Ulrich Kohli (Swiss National Bank)
“Globalization, Trade in Middle Products, and Relative Prices” [presentation file] [abstract]
3:35-4:00 Marcel Timmer (University of Groningen in the
Netherlands
)
“Aggregation of Industry-Level Productivity in an Open Economy”
[presentation file]
by M. Timmer and R. Inklaar (University of Groningen)
4:00-4:15 COFFEE BREAK
4:15-4:40 Marshall
Reinsdorf (BEA)
“Measuring
Effects on Changing Terms of Trade on Real
Gross National Income” [presentation file]
[abstract]
4:40-5:05 Keir Armstrong (Carleton University)
“Empirically Estimated
‘True’ PPP Indexes”
5:05-5:30- Alicia Rambaldi (University of Queensland,
Australia
)
“Construction of World Tables of Purchasing Power
Parities and Real Incomes
Based on Multiple
Benchmarks and Auxiliary Information: A State-Space Approach” [presentation file] [abstract]
by D.S. Prasada Rao, A. Rambaldi and H. Doran (University of Queensland,
Australia
)
5:30-5:50 Commentator for May 15 Session 4D, and general
discussion
Dave Mead (Bureau of Labor Statistics)
____________________
May 15 Session 4E: Growth, Jobs and Earnings (Location: The Francis Scott Key Ballroom Salon A)
Session Chair: Richard Freeman (Harvard University and NBER)
2:45-3:05 Soji Adelaja (Michigan State University)
“How States Grow: The Old and the New Economy” [presentation
file]
by S. Adelaja, Y.G. Hailu, M. Wyckoff and E. Bailey (Michigan State University)
3:05-3:25 Seik Kim (University of Washington)
“Economic Assimilation of Foreign-Born Workers
in the United States: An Overlapping
Rotating Panel Analysis” [presentation file]
3:25-3:45 Joyce Chen (Ohio State University)
"Identifying Non-Cooperative Behavior among Spouses:
Child Outcomes in
Migrant-Sending Households"
[presentation file] [abstract]
3:45-4:05 Hâle Utar (University of Colorado at Boulder)
“Import
Competition and Employment Dynamics”
[presentation
file] [abstract]
4:05-4:20 COFFEE BREAK
4:20-4:40 Dale Belman (Michigan State University)
“Earnings and Hours of Work in a Weakly Regulated
Labor Market: The Case of Truck Drivers”
by D. Belman (Michigan State University), K.A. Monaco (California State University at Long Beach)
and P.J. Wolfson (Dartmouth College)
4:40-5:00 John Haltiwanger (University of Maryland)
“Exploring
Differences in Employment between Household and Establishment Data” [presentation
file]
by K.G. Abraham (University of Maryland), J. Haltiwanger (University of Maryland),
K. Sandusky (
U.S.
Census Bureau) and J. Spletzer (
U.S.
Census Bureau)
5:00-5:20 Limor Golan (Carnegie Mellon University)
“Promotion,
Turnover and Compensation in the Market for Executives”
by G.-L. Gayle, L. Golan, and R. Miller (Carnegie Mellon University)
5:20-5:50 Commentator for May 15 Session 4E, and
general discussion
Matthew Dey (Bureau of Labor Statistics)
____________________
May 15 Session 4F, Part 1: Index Number Theory II (Location: Francis Scott Key Ballroom Salon B)
Session Chair: Tarek Harchaoui (Statistics
Canada
)
2:45-3:05 Martin Eiglsperger (European Central Bank)
“Seasonal
Adjustment of Chain-linked Volume Measures in Quarterly National Accounts:
Findings of a
European Task Force” [presentation
file]
3:05-3:25 Adam Copeland (BEA)
“Seasonality and Prepackaged Software Price
Indexes” [presentation
file] [abstract]
by A. Copeland and A.
Miller (BEA)
3:25-3:45 Jens Mehrhoff (Bundesbank)
“Sources
of Revisions of Seasonally Adjusted Real Time Data” [presentation file] [abstract]
3:45-4:05 Irwin Gerduk (Consulting, LLC)
“The Producer Price
Index Quality Assessment Framework: An Empirical Tool for Assessing the
Fitness for Use of a
GDP Price Deflator” [presentation file]
[abstract]
4:05-4:25 Paul Armknecht (Consultant)
“Dealing
with Seasonal Products in Price Indexes” [presentation file] [abstract]
by W.E. Diewert,
P.A. Armknecht and A.O. Nakamura
4:25-4:40 COFFEE BREAK
May 15 Session 4F,
Part 2: Index Number Practice in Developing Countries (Location:
Francis Scott
Key Ballroom Salon B)
Session Chair: Marshall
Reinsdorf (BEA)
4:40-5:00 David Fenwick (
U.K.
Office of National Statistics)
“A Globally-Harmonised Consumer
Price Index: A Review of the Need for such an Index and the
Extent to Which It Is and Can
Be Met and the Implications for the ILO Resolution on Consumer
Price Indices” [presentation file]
5:00-5:20 David Fenwick (
U.K.
Office for National Statistics)
“The challenges facing
compilers of CPIs in developing countries: and the need for a supplementary
handbook to the
International Manual on CPIs and implications for the ILO resolution on
consumer
price indices” [presentation file]
5:20-5:50 Panel discussion of the Fenwick presentations by Ludwig
von Auer (Universität Trier),
Bert Balk (Erasmus University Rotterdam and Statistics
Netherlands
), Martin Eiglsperger (European
Central Bank), and Marc Prud’Homme (Public Works
Canada
).
____________________
May 15 Evening Program
Capital View Ballroom (14th floor)
Masters of Ceremonies for the evening of May 15: Mun
Ho (Resources for the Future) and Alice Nakamura (University of Alberta)
6:00-6:45 DINNER
6:45-7:00 Presentation of the “E” and induction of
new members to the Author’s Galaxy of the 2008 Official Statistics Stars by World Congress Awards
Committee Member, D.S. Prasada Rao (University of Queensland,
Australia
).
From “Potomac River Mist” by Carl Sandburg
The Washington monument pointed to a new moon for us
and a gang from over the river sang ragtime to a ukelele.
The river mist marched up and down the Potomac,
we hunted
the fog-swept Lincoln Memorial, white as a blond woman’s arm.
We circled the city of Washington and came back home four o’clock in the morning,
passing a sign: House Where Abraham Lincoln Died, Admission
Cents.
The path of a night fog swept up the river to the Lincoln
Memorial
when I saw it again and alone at a winter’s end, the marble
in the mist
white as a blond woman’s arm.
7:10-7:50 The Potomac Lectures
Session Chair: Susan Houseman (W.E. Upjohn
Institute for Employment Research)
Leonard Nakamura (Federal Reserve Bank of Philadelphia)
“Intangibles and National Income Measurement”
[presentation file]
Robert E. Lipsey (City University of New York and NBER)
“Measuring the Location of Production in a World of
Intangible Productive Assets,
FDI, and Intrafirm Trade”
8:00-9:40 A Panel on the New XMPI Manual
(The manual is available at
http://www.imf.org/external/np/sta/tegeipi/index.htm)
Session Organizer and Chair: Mick Silver (IMF) [paper]
Other panel members:
Bill Alterman (Bureau of Labor Statistics), Paul Armknecht (Consultant) [presentation file],
Erwin Diewert (University of British Columbia and NBER), Kim Zieschang (IMF)
9:40-10:30 Social Time
Friday, May 16
In front of Potomac Ballroom (Main floor)
7:30-8:30 Continental breakfast (and registration for
newcomers)
Potomac Ballroom
May 16 Session 1: New Measurement Approaches and Challenges
Session Chair: Jón Steinsson (Columbia University and NBER)
8:30-8:50 Ariel Pakes (Harvard University and NBER)
“An Experimental Component Index for the
CPI” [presentation file]
by T. Erickson (Bureau of Labor Statistics) and A.
Pakes (Harvard University and NBER)
8:50-9:10 David Fenwick (
U.K.
Office of National Statistics)
“Using
the SNA to Improve Price Measures” [presentation
file]
9:10-10:10 May 16 Session 2: Panel
Discussion on Services Off-shoring: Its Growth and Problems in Measuring It
Session Chair: Janet Norwood (NAPA)
Panel members include Loren Yager (GAO) [presentation
file],
Ken
Ryder (NAPA) [presentation
file], Obie Whichard (BEA),
and Bradford Jensen (Georgetown University and Peterson Institute for International
Economics)
____________________
10:10-10:30 COFFEE BREAK
May 16 Session 3: Measures of Employment, Price and Productivity
Changes
Session Chair: Richard Freeman (Harvard University and NBER)
10:30-10:50 Susan Houseman (W.E. Upjohn Institute for
Employment Research)
“Outsourcing, Offshoring, and Productivity:
Measurement Issues" [presentation file]
11:10-11:30 Ivan T. Kandilov (North Carolina State University)
“How Import
Competition Affects Displaced Workers in the U.S.” [presentation
file]
11:30-11:50 Aviv Nevo (Northwestern University and NBER)
“How Accurate is Self-Reported Consumer
Purchase Behavior?” [presentation file]
by L. Einav (Stanford University and NBER), E. Leibtag (USDA), and A. Nevo
(Northwestern University and NBER)
11:50-12:10 Erik Brynjolfsson (MIT)
“Scale without Mass: Business Process Replication and
Industry Dynamics” [presentation
file]
____________________
May 16 Luncheon Program
Capital View Ballroom (14th floor)
12:15-1:00 LUNCH
1:00-2:20 Panel II on the Role of Official Statistics in a
Modern Society
Session Chair: Paul Schreyer (OECD)
Alice Rivlin (Congressional Budget Office)
“Reflections
on the Creation and
Development of the Congressional Budget Office”
Amihai Glazer (University of California at Irvine)
“Rent Seeking by Excessive Data Collection”
[presentation file]
Robert G.
Murphy (Boston College)
“Finding Ways to Bring More Official Statistics into Economics
Textbooks for Universities”
Enrico Giovannini (OECD)
“Is Globalisation a Threat to Official Statistics?”
[presentation]
May 16 Afternoon Program
Parallel sessions held in the designated rooms
May 16 Session 4A: R&D and Capital (Location: Potomac A)
Session Chair: Karen Wilson (Statistics
Canada
)
2:45-3:05 Dale Mortensen (Northwestern University and NBER)
“An Empirical Model of Growth through Product Innovation”
by R. Lentz (University of Wisconsin-Madison and Boston University) and
D.T. Mortensen
(Northwestern University and NBER)
3:05-3:25 Dennis Fixler (BEA)
“Measuring the
Price of R&D Output”
3:25-3:45 Mark de Haan (Statistics Netherlands)
“Measurement
Issues in R&D Capitalization: Results from the Netherlands” [presentation
file]
3:45-4:05 Michelle Alexopoulos (University of Toronto)
“Volumes of
Evidence: Examining Technical Change Last Century Through a New Lens”
[presentation file][abstract]
by M. Alexopoulos and J. Cohen (University of Toronto)
4:05-4:20 COFFEE BREAK
4:20-4:40 Koji Nomura (Keio University)
“Japan
’s New Survey of Asset Discards from Corporate
Accounts” [presentation file]
[presentation file (ppt)] [background paper]
4:40-5:00
Martin K. Zhu (USDA)
“Impact of External
Shocks on Nation's Policy Responses and Economic Growth --
the World Economic
Synchronization” [presentation file]
[abstract]
5:00-5:20 Linda Cohen (University of California at Irvine)
“R&D Expenditures as an Indicator of a Country’s
Investment in Innovation”
5:20-5:50 Session Chair’s
remarks and general discussion
____________________
May 16 Session 1B, Part 1: Productivity and Growth II (Location: Potomac B)
Session Chair: Dale Jorgenson (Harvard University and NBER)
2:45-3:15 Ajit Singh (University
of Cambridge)
“Does
Integration of
India
and
China
with the World Economy Harm the
US
Workers?”
3:15-3:35 Subal
Kumbhakar (SUNY Binghamton)
“Impact of
Reforms on Plant-Level Productivity and Technical Efficiency:
Evidence from the Indian Manufacturing Sector” [presentation
file]
by S.K. Bhaumik and S.C. Kumbhakar (SUNY Binghamton)
3:35-3:55 Thomas Strobel (University of Munich)
“ICT, Skills and German Industry
Productivity: The Interdependency of High-Skilled
Labor and ICT Investments” [presentation
file]
3:55-4:10 COFFEE BREAK
May 16 Session 1B, Part 2: Productivity and Growth II (Location: Potomac B)
Session Chair: Dale Jorgenson (Harvard University and NBER)
4:10-4:30 Amit
Gandhi (University of Wisconsin-Madison)
“Estimating Production Functions with Heterogeneous Firms” [presentation file]
by A. Gandhi, S. Navarro and D. Rivers (University of Wisconsin-Madison)
4:30-4:50 Daniel Boothby (Industry
Canada
)
“Business R&D Intensity in
Canada
and the
United States
: Does Firm Size Matter?” [presentation file]
by T. Songsakul, B. Lau and D. Boothby
(Industry
Canada
)
4:50-5:05 Sean Collins (University of Alberta)
“Base of Pyramid Business Strategies for Developing
Countries” [presentation file]
5:05-5:20 Takanobu
Nakajima (Economic and Social Research Institute, Cabinet Office, Japanese Government and Keio University)
“The Estimation of Returns to Scale in Japanese Industries”
by W.E. Diewert, T. Nakajima, A. Nakamura and
M. Nakamura
5:20-5:35 Alice Nakamura (University of Alberta)
“Returns to Scale and Multifactor Productivity
Growth in
Canada
: a KLEMS Application”
by A. Nakamura
(University of Alberta) and J. Tang (Industry
Canada
)
5:35-5:50 Commentator
for May 16 Session 1B-Parts 1 and 2
Michael J. Harper (Bureau of Labor Statistics)
____________________
May 16 Session 4C: Index Number Theory III (Location: Potomac C)
Session Chair: Ulrich Kohli (Swiss
National Bank)
2:45-3:05 Ki-Hong Choi (National Pension Research Institute,
Korea
) and Hak K. Pyo (Seoul National University)
“Reinsdorf-Balk Transformation and Additive
Decomposition of Indexes” [presentation
file]
3:05-3:25 Jianmin
Tang (Industry
Canada
)
“Unbalanced Industry Demand and Supply
Shifts: Implications for Economic Growth in Canada and the
United States” [abstract]
[presentation file]
by A. Dufour, J. Tang and W. Wang
3:25-3:45 Gerry O’Donnell (Statistics
Canada
)
“Assessing the Reliability of the 2005
CPI Basket Update in
Canada
Using the
Bortkiewicz Decomposition” [presentation
file]
by A. Chaffe, M. Lequain and G. O. O-Donnell
(Statistics
Canada
)
3:45-4:05 D.S. Prasada Rao (University of Queensland,
Australia
)
“Systems of Index Numbers for International Price
Comparisons Based on the Stochastic Approach”
[presentation file]
[abstract]
by G. Hajarghasht and D.S. Prasada Rao (University of Queensland,
Australia
)
4:05-4:20 COFFEE BREAK
4:20-4:40 Mick Silver (IMF)
“An Index Number
Formula Problem: The Aggregation of Broadly Comparable Items” [presentation
file]
4:40-5:00 Ludwig von
Auer (Universität Trier)
“Questioning Some General
Wisdom in Axiomatic Index Theory” [presentation
file] [abstract]
5:00-5:20 Ludwig von
Auer (Universität Trier)
“Axiomatic Analysis of Unilateral Price Indices” [abstract]
[presentation file]
5:20-5:50 Commentator for May 16 Session 4F, and
general discussion
Marshall Reinsdorf (BEA)
____________________
May 16 Session 4D: Owner Occupied Housing and Durables (Location: Potomac D)
Session Chair: Martin
Eiglsperger (European Central Bank)
2:45-3:05 Ariel Coremberg (ECLAC
Buenos Aires CONICET/IDES)
“Depreciation of Durable
Goods in an Unstable Economy: The Case of Argentina” [abstract] [presentation file]
3:05-3:25 Carmen Reinhart (University of Maryland and NBER)
“Is the 2007
U.S.
Subprime Crisis So Different? An International
Historical Comparison”
by C. Reinhart (University of Maryland and NBER) and K.S. Rogoff
3:25-3:45 Rósmundur Guðnason (Statistics
Iceland
)
“House Price Indexes, Approaches and Methods” [presentation]
by Rósmundur Guðnason and Guðrún R. Jónsdóttir (Statistics
Iceland
)
3:45-4:00 COFFEE BREAK
4:00-4:20 Jan de Haan (Statistics Netherlands)
“A House Price Index Based on the SPAR
Method” [presentation file] [abstract]
P. De Vries, J. De Haan,
G. Mariën and E. van der Wal (Delft University of Technology, The Netherlands)
4:20-4:40 Robert J. Hill (University of Graz,
Austria
)
“Comparing House
Prices Using Hedonic Methods: The Problem of Substitution Bias” [additional
paper] [presentation file]
4:40-5:00 Thesia
Garner and Randal Verbrugge (Bureau of Labor Statistics)
“Reconciling Users Costs
and Rental Equivalence: Evidence from the
US
Consumer Expenditure Survey” [presentation
file]
5:00-5:20 W. Erwin Diewert (University of British Columbia
and NBER)
“Accounting for Housing in a CPI” [presentation file] [abstract] [background paper]
by W.E.
Diewert (University of British Columbia and NBER)
and A.O. Nakamura
(University
of Alberta)
5:20-5:50 Commentator for May 16 Session 4D, and general
discussion
Paul Schreyer (OECD)
____________________
May 16 Evening Program
Capital View Ballroom (14th floor)
A Night of Recognition for a New |
System of |
Spectacularly |
National |
Noteworthy |
Accounts |
Achievement |
Masters of Ceremonies for the evening of
May 16: Steve Landefeld (BEA) and Alice Nakamura (University of Alberta)
6:00-7:00 DINNER
7:00-7:15 Presentation of the “M” by “World Congress
Awards Committee Member Hak Pyo (Seoul National University).
7:15-7:45 Recognition of the United
Nations and other international organizations that have made possible the SNA revision, and of Inter-Secretariat
Working Group on National Accounts (ISWGNA) and of ISWGNA's Advisory Expert
Group (AEG): Kim Zieschang (IMF)
8:00-9:30 S&A Tales
Dale Jorgenson (Harvard University and NBER), Enrico Giovannini (OECD), Carol Carson (Consultant), Anne Harrison (Editor, SNA Update), Frits Bos (CPB
Netherlands
Bureau for Economic Policy Analysis) [presentation
file], Peter Hill (Consultant), W. Erwin Diewert (University of British Columbia and NBER), and Brent Moulton (BEA).
9:30-10:30 Social Time
Saturday, May 17
In front of Potomac Ballroom (Main floor)
8:00-9:00 Continental breakfast (and registration for
newcomers)
Parallel sessions held in the designated rooms
May 17 Session 1A, Part 1: Productivity Measurement (Location: Potomac A)
Session Chair: Dale Jorgenson (Harvard University and NBER)
9:00-9:20 Andrew Sharpe (Centre for the
Study of Living Standards-www.csls.ca)
“A Detailed Analysis of Productivity
Performance in the Canadian Mining and Oil
and Gas Extraction Industry” [presentation
file]
9:20-9:40 Ariel
Coremberg
(ECLAC
Buenos Aires CONICET/IDES)
“Measurement
Problems of TFP Performance in an Unstable Economy:
Argentina 1990-2004: A Case of
the Tyranny of Methodology” [abstract] [presentation file]
9:40-10:00 Eunice Lau (The Asian Productivity
Organization)
“The APO Initiative” [presentation
file]
10:00-10:20 COFFEE BREAK
May 17 Session 1A, Part 2: Measurement of Shocks and Price Movements (Location: Potomac A)
Session Chair: Dale Jorgenson (Harvard University and NBER)
10:20-10:40 Jacques Kibambe (University of Pretoria)
“Some
Policy Experiments Using a Marshallian Econometric Model” [presentation
file] [abstract]
10:40-11:00 Loretta Fung (University of Alberta)
“The
Impact of Real Exchange Rate Movements on Services” [presentation
file]
by J. Baggs (University of Victoria), E. Beaulieu (University of Calgary) and L. Fung (Universityof Alberta)
11:00-11:20 Peter Hill (Consultant)
“The Lowe Index”
11:20-11:40 Bert Balk (Erasmus University Rotterdam and Statistics
Netherlands
)
“The Lowe Consumer Price Index and Its Substitution
Bias” [presentation
file]
11:40-11:50 Commentator for May 17 Session 1A, Parts 1 and 2
Marshall Reinsdorf (BEA)
____________________
May 17 Session 1B: Measurement in an e-World (Location: Potomac B)
Session Chair: Richard Freeman (Harvard University and NBER)
9:00-9:20 Dale
Mortensen (Northwestern University
and NBER)
“More on Unemployment and
Vacancy Fluctuations”
by D.T. Mortensen
(Northwestern University and NBER) and É. Nagypál (Northwestern University)
9:20-9:40 Michelle Alexopoulos (University of Toronto)
“The
Media Is the Measure: Documenting the Relationship between Technical
Change and Employment, 1909-49” [presentation
file] [abstract]
by M. Alexopoulos and J. Cohen (University of Toronto)
9:40-10:00 John
W. Galbraith (McGill University)
“Electronic
Transactions as High-Frequency Indicators of Economic Activity” [presentation
file]
10:00-10:20 COFFEE BREAK
10:20-10:40 Jason Faberman (Federal Reserve Bank of Philadelphia)
“Adjusted Estimates of Worker Flows and Job Openings
in JOLTS” [presentation file]
by S.J. Davis (University of Chicago), R.J. Faberman (Federal Reserve Bank of Philadelphia),
J.C. Haltiwanger (University of Maryland and NBER), and I. Rucker (Bureau of Labor Statistics)
10:40-11:00 Vera Brenčič (University of Alberta)
“Online
Job Boards as an Employer
Recruitment Tool” [presentation file]
[abstract]
by V. Brenčič (University of Alberta) and J.B. Norris (Purdue University)
11:00-11:20 Alice O. Nakamura (University of Alberta)
“Importance
and Measurement of Size for e-Sites”
by A.O. Nakamura (University of Alberta),
R.B. Freeman (Harvard University),
and A. Pyman (University of Kent)
11:20-11:40 Betsey
Stevenson (University of Pennsylvania)
“The Impact of the Internet on Worker Flows”
[presentation file]
11:40-11:50 Session Chair’s closing
remarks
____________________
May 17 Session 1D: Expert Session on Output and Price Measurement for the
Banking Industry
(Location: Potomac D)
Session Chair: John Greenlees (Bureau of Labor Statistics)
9:00-9:20 David Humphrey (Florida State University)
“Using Frontier Efficiency Analysis to Indicate
Banking Productivity” [presentation
file] [abstract]
9:20-9:40 Sangita Dubey (Statistics
Canada
)
“Bank Service Price Measurement and
Output Deflation in
Canada
” [presentation
file]
by S.
Dubey and M. Ruddock (Statistics
Canada
)
9:40-10:00 Kusum
W. Ketkar (Vanderbilt University)
“Performance
and Profitability of Banks in India in the Post Liberalization Period” [presentation
file] [abstract]
10:00-10:20 Christina Wang (Federal Reserve
Bank of Boston) and Susanto Basu (Boston College and NBER)
“Technological
Progress, ‘Money’ in the Utility Function, and the ‘User Cost of Money’”
[presentation file] [abstract]
10:40-11:40 Banking panel discussion:
Itsuo Sakuma (Senshu University,
Japan
) [memoranda] [presentation file]
Dennis Fixler (BEA)
Erwin
Diewert (University of British Columbia and NBER) [background
paper] [presentation file]
11:40-11:50 Session Chair’s closing remarks
____________________
May 17 Luncheon Program
Capital View Ballroom (14th floor)
12:00-12:40 LUNCH
May 17th luncheon speakers on some big
issues affecting index making:
Session Chair: Enrico
Giovannini (OECD)
12:40-1:00 Gergely Ujhelyi (University of Houston)
“Do Corruption Indices Measure Corruption?”
[presentation file]
by D. Domchev (Harvard University) and G. Ujhelyi (University of Houston)
1:00-1:20 Patrick Canning (USDA)
"Fuel for Food: Global Energy Requirements to
Accommodate
U.S.
Food Demand"
P. Canning (USDA/ERS) and K.R. Polenske (MIT/DUSP)
1:20-1:40 Barry Ickes (Pennsylvania State University and The New Economic School, Moscow)
“The Political Economy of Resource Dependence in
Russia
: Addiction and Withdrawal” [presentation
file]
by C. Gaddy (Brookings Institution) and B. Ickes (Pennsylvania State University and
The New Economic School, Moscow)
1:40-2:00 Bill Alterman and Jeanette
Siegel (Bureau of Labor Statistics)
“Pricing International Services -- Trials and
Tribulations!" [presentation
file]
May 17 Afternoon Program
Potomac Ballroom (A&B&C combined)
May 17 Session 2: Services and Other Hard to Treat
Measurement Issues
Session Chair: Thesia
Garner (Bureau of Labor Statistics)
2:20-2:40 Peter Hill (Consultant)
“Interest
in National Accounts”
2:40-3:00 W. Erwin Diewert (University of British Columbia and NBER)
“The
Measurement of Nonmarket Sector Outputs and Inputs Using Cost Weights” [presentationm
file] [abstract]
3:00-3:20 Leighton Vaughan Williams (Nottingham Trent University)
“Broadcasting Productivity Growth in the
UK
: Implications for the BBC” [presentation file]
by D. Paton and L.V.
Williams (Nottingham Trent University)
3:20-3:40 COFFEE BREAK
3:40-4:00 Kam Yu (Lakehead University)
“Comparisons of
Hospital Output in Canada: National and International Perspectives”
[presentation
file]
by K. Yu (Lakehead University) and R. Ariste (Canadian Institute for Health
Information)
4:00-4:20 Ana
Aizcorbe (BEA)
“Changes in Treatment
Intensity, Treatment Substitution and Price Indexes for Health Care Services”
[presentation file]
by A. Aizcorbe (BEA) and N. Nestoriak (Bureau of Labor Statistics)
4:20-4:40 John Sabelhaus (University of Maryland)
“Will
the Slowdown in US Health Cost Growth Continue? A Factor Market Perspective” [presentation file]
4:20-5:00 Concluding Remarks
Richard Freeman (Harvard University and NBER)
____________________
May 17 Evening Program
Capital View Ballroom (14th floor)
Gala Farewell
Masters of Ceremonies for the evening of
May 16: Richard
Freeman (Harvard University and NBER) and
Alice Nakamura (University of Alberta)
6:00-7:00 Reception
7:00-8:00 DINNER
8:00-8:15 Presentation of the S by World Congress Awards
Committee Member, Alice
Nakamura (University of Alberta)
8:15-10:30 Social time, with light dessert; after
dinner drinks, decaf latte and coffee and tea, cocoa
The Organizing Committee
Bill Alterman (BLS), Susanto Basu (Boston College and NBER), Richard Freeman (Harvard University and NBER), John Greenlees (BLS), David Fenwick (UK Office of National Statistics, ONS), Dennis Fixler
(BEA), Tarek Harchaoui (Statistics Canada), Mike
Harper (BLS), Robert Hill (University of Graz), Susan Houseman
(Upjohn Institute), Steve Landefeld (BEA), Ephraim Leibtag (USDA), Alice Nakamura (University of Alberta), Emi Nakamura (Columbia, Federal Reserve Bank of New York
and NBER), Leonard Nakamura (Federal Reserve Bank of Philadelphia), Koji Nomura
(Keio University), Marc Prud’homme (Statistics Canada), Hak Pyo (Seoul
University), Marshall Reinsdorf (BEA), Ken Ryder (NAPA), Someshwar Rao
(Industry Canada), Paul Schreyer (OECD), Mick Silver (IMF), Jón Steinsson
(Columbia, New York Federal Reserve Board and NBER), Jianmin Tang (Industry
Canada), Ludwig von Auer (University of Trier), Christina Wang (Federal Reserve
Bank of Boston), and Karen Wilson (Statistics Canada).
The Sponsoring Organizations
National Bureau of Economic Research (NBER)
US Department of Agriculture (USDA)
Alfred P. Sloan
Foundation
US Bureau of Economic Analysis (BEA)
University of Alberta School of Business
Industry Canada
Statistics Canada
W.E. Upjohn
Institute for Employment Research
The International Monetary Fund (IMF)
School of Economics and Centre for Efficiency and
Productivity Analysis, University of Queensland