Transcript China KLEMS Database

China KLEMS Database
——The 2nd Asia KLEMS Database Management
workshop
Ren Ruoen
Sun Linlin
Fan Maoqing
Zheng Haitao
Li xiaoqin
China Klems Database
• The economy is divided into 33
sectors.
• Input-Output time series ( Output index,
intermediate input index, energy input index,
input compensation share).
• Capital input index
• Labor input index
• TFP growth rate
2
Industrial Classification
01 Agriculture
18 Fabricated metal
02 Coal mining
19 Machinery, non-elect
03 Metal and non-metallic mining
20 Electrical machinery
04 Oil and gas extraction
21 Motor vehicles
05 Construction
22 Transportation equipment & ordnance
06 Food and kindred products
23 Instruments
07 Textile mill products
24 Rubber and misc plastics
08 Apparel
25 Misc. manufacturing
09 Lumber and wood
26 Transportation
10 Furniture and fixtures
27 Communications
11 Paper and allied
28 Electric utilities
12 Printing, publishing and allied
29 Gas utilities
13 Chemicals
30 Trade
14 Petroleum and coal products
31 Finance Insurance and Real Estate
15 Leather
32 Other private service
16 Stone, clay, glass
33 Public service
17 Primary metal
3
Input Output Series
• The NBS used the Material Product System
(MPS) before 1987.
• Transformed to the System of National Accounts
(SNA) after 1987.
4
Data source for IO table
• Gross output, value-added & its components by industry
(labor compensation, taxes, depreciation, operating
surplus), and all the underlying supporting materials;
• Final use by industry (household & government
consumption, fixed capital formation, inventory, exports
& imports), and all the underlying supporting materials;
• 1981 MPS IOT;
• 1987, 1992, 1997, 2002,2007 benchmark IOTs;
• 1990, 1995, 2000, 2005 , 2010extended IOTs;
• Price indies by industry and all the underlying
supporting materials;
• Financial virtual consumption and trade adjustments
materials;
5
Input-Output Time Series
• Have finished the Input-output time series for 1981-2005,
• Now updating the Input-Output time series for 1981-2012.
• Constructed current value benchmark I-O tables (1981,1987,
1992, 1997,2002,2007) including A tables and U tables

Consistent with the coverage and definitions of the 1997 I-O table and
scaled to the latest GDP series
1990, 1995, 2000, 2005,2010 extended IOTs
• Constructed the current value U tables based on the
benchmark tables
• Constructed the price index for each sector.
• Constructed the real value U tables based on the current
value U tables and price indices
6
• Output index.
• Intermediate input index, as a Divisia index of all
the components. d ln M jt   vijtM d ln Mijt
i
vijtM 
PitM Mijt
PMjt M jt
• Energy input index, comes from coal mining, oil
and gas extraction, Petroleum and coal
products, electricity utilities and gas.
7
Capital Input Index
• Estimated the capital stock
• Estimated the capital rental price with the help
of the property compensation from the inputoutput series
• Aggregation of capital services over different
asset types with the weight of capital rental
price
8
Capital Stock estimation
• with the Perpetual Inventory Method with the
geometrically declining pattern, classified by
asset type – structure, equipment, computer,
communication equipment, software.
• We adjust the “fixed asset investment” to “gross
capital formation” of each industry.
• Aggregate ICT investment data estimated from
the sales value of ICT sector and net exports
data of ICT. The ICT investment proportion of
different sector comes from the census data. 9
Capital Stock estimation
• Asset price index comes from the NBS, the IO
table series.
• Depreciation rate is based on the geometrically
decline model, estimated base on the asset life
assumption.
• We estimate the land capital stock for
agriculture.
10
Capital Rental Price
• The capital rental price involves rates of return,
depreciation, and capital gain for each of asset.
p  (1 r)q  q  p
t
t 1
t
D ,t
 r q   t q  (q  q )
t 1
t
t
t 1
• Data on asset prices and rates of depreciation
for all assets are required for the PIM.
11
Rate of Return
• The rate of return is estimated from the internal
rate of return with the capital compensation
from the IO time series.
• We consider the self-employed compensation
problem during the internal rate of return
estimation.
12
Capital data progress
• Capital Stock data Updated to 2012.
• The capital rental price now available to 2005.
• Can update the capital input index to 2012, only
after the IO table time series finish
13
Labor Input Index
• Labor input is a divisia aggregate over workers
distinguished by sex, age and education attainment
using wages as weights.
d ln L jt   vljtL d ln Lljt   vljtL d ln H ljt
l
l
Sex: male, female
Educational attainment: 1 illiterate, 2 elementary school,
3 junior high school, 4 senior high school, 5 college.
Age: 15-19, 20-24, 25-29, 30-39, 40-49, 50-54, 55+
14
Labor input index
•
Number of workers for benchmark is based on the Population
Cencuses(1982,1990,2000, 2010), and Sample Population
Surveys(1987,1995,2005).
•
Number of workers of other years is estimated from the Labor Force
of Society （prior to 1990), the annual Population Change Surveys
(since 1990).
•
Hours data is from the 1995 Sample Population Survey, and
incorporate the changes in institutional arrangement.
•
Relative costs of different workers using the Chinese Household
Income Project (CHIP) Surveys.
•
Sum of different categories of workers is equal to the labor
compensation of IO table for each industry.
15
Labor Data Progress
• Numbers of labor workers, update to the 2012.
• Also collect the labor compensation data
available.
• Can update the labor input index to 2012, only
after the IO table time series finish
16
Values(at current price)
•
•
•
•
•
•
•
•
•
•
•
Gross output
Intermediate inputs
Intermediate energy inputs
Intermediate material inputs
Intermediate service inputs
Gross value added at current basic prices
Compensation of employees
Gross operating surplus
Other taxes minus subsidies on production
Number of employees
Total hours worked by employees (millions)
17
Volumes
• GO_QI Gross output, volume indices
• II_QI Intermediate inputs, volume indices
• IIE_QI Intermediate energy inputs, volume
indices
• IIM_QI Intermediate material inputs, volume
indices
• VA_QI Gross value added, volume indices
18
Growth accounting
•
•
•
•
•
LAB Labour compensation
CAP Capital compensation
LAB_QI Labour services,
CAP_QI Capital services,
Growth rate of value added volume (% per year)
19
Growth accounting
• VAConH Contribution of hours worked to value
added growth (percentage points)
• VAConLC Contribution of labour composition
change to value added growth (percentage
points)
• VAConK Contribution of Capital to value added
growth (percentage points)
• VAConKIT Contribution of ICT capital services
to value added growth (percentage points)
VAConTFP Contribution of TFP to value added
growth (percentage points)
• TFPva_I TFP (value added based) growth,
20
Additional variables
• CAPIT ICT capital compensation (share in total
capital compensation)* CAPNIT
• Non-ICT capital compensation (share in total
capital compensation)* CAPIT_QI
• ICT capital services, volume indices
• CAPNIT_QI Non-ICT capital services
• Labour services per hour worked, 2005
reference
• H_M Hours worked by male persons engaged
(share in total hours)
• H_F Hours worked by female persons engaged
(share in total hours)
21
Thank you very much
22