Crouzet, Nicolas; Eberly, Janice C. - National Bureau of Economic Research - 2021
investment affect measured capital growth, each potentially generating downward bias in measured TFP growth. Most importantly …In recent years, measured TFP growth in the US has declined. We argue that two forces contributed to this decline: the … TFP growth. Using input-output data, we estimate that this mechanism could account for one-third to two-thirds of the …