---
title: "Missing Growth in Finland"
authors:
  - name: "Anttila, Juho"
date_published: "2018-08-24"
series: "ETLA Working Papers"
series_number: "60"
issn:
  - "2323-2420"
  - "2323-2439"
jel_codes:
  - "O3"
  - "O4"
language: "en"
publisher: "ETLA Economic Research"
pdf_url: "https://www.etla.fi/wp-content/uploads/ETLA-Working-Papers-60.pdf"
keywords:
  - "Inflation measurement"
  - "Creative destruction"
  - "Economic growth"
identifier: "https://www.etla.fi/julkaisut/id/ETLA-Working-Papers-60"
abstract: "This study investigates the extent of ’missing growth’ in Finland due to upward bias in the cost-of-living measurement. This upward bias, as documented by Aghion et al. (2017), results from the quality adjustments that statistical offices use for entering and exiting products. This bias is estimated using a method by Aghion et al. (2017), which is based on establishments’ entry- and exit-dynamics. The baseline result suggests an average missing growth of 0.69 percentage points over the years 2006–2013. Additionally, product- and establishment-level data are used to study the identification assumptions behind the market share method. This study’s results raise some concerns regarding the validity of these assumptions."
---

# Missing Growth in Finland

**Published:** 2018-08-24  
**Categories:** Publications, Working Papers  
**URL:** https://www.etla.fi/en/publications/missing-growth-in-finland/

#### Abstract

This study investigates the extent of ’missing growth’ in Finland due to upward bias in the cost-of-living measurement. This upward bias, as documented by Aghion et al. (2017), results from the quality adjustments that statistical offices use for entering and exiting products. This bias is estimated using a method by Aghion et al. (2017), which is based on establishments’ entry- and exit-dynamics. The baseline result suggests an average missing growth of 0.69 percentage points over the years 2006–2013. Additionally, product- and establishment-level data are used to study the identification assumptions behind the market share method. This study’s results raise some concerns regarding the validity of these assumptions.

---

## Additional Information

**Lataa Pdf:** https://www.etla.fi/wp-content/uploads/ETLA-Working-Papers-60.pdf

**Kirjoittajat:** Anttila, Juho

**Kansikuva:** https://www.etla.fi/wp-content/uploads/etla-working-papers-60-kansi.jpg

**Key Words:** Inflation measurement, Creative destruction, Economic growth

**Jel:** O3, O4

**Paivays:** 24.08.2018

**Sivuja:** 21

**Kieli:** en

**Sarja:** ETLA Working Papers

**Sarja Nro:** 60

**Issn:** 2323-2420, 2323-2439 (Pdf)

**Saatavuus:** 2

Printtiversion voi tilata s-postitse osoitteesta tilaukset@taloustieto.fi

**Publication Research:** No

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