Productivity and U.S. Macroeconomic Performance : Interpreting the Past and Predicting the Future with a Two-Sector Real Business Cycle Model
A two-sector real business cycle model, estimated with postwar U.S. data, identifies shocks to the levels and growth rates of total factor productivity in distinct consumption- and investment-goods-producing technologies. This model attributes most of the productivity slowdown of the 1970s to the consumption-goods sector; it suggests that a slowdown in the investment-goods sector occurred later and was much less persistent. Against this broader backdrop, the model interprets the more recent episode of robust investment and investment-specific technological change during the 1990s largely as a catch-up in levels that is unlikely to persist or be repeated anytime soon
Year of publication: |
[2010]
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Authors: | Ireland, Peter N. |
Other Persons: | Schuh, Scott D. (contributor) |
Publisher: |
[2010]: [S.l.] : SSRN |
Subject: | USA | United States | Produktivität | Productivity | Real-Business-Cycle-Theorie | Real business cycle model | Mehrsektoren-Modell | Multisectoral model | Wirtschaftswachstum | Economic growth |
Saved in:
freely available
Extent: | 1 Online-Ressource (41 p) |
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Series: | NBER Working Paper ; No. w13532 |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 2007 erstellt |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012759764