productivity growth relative to technology growth in the first part of the expansion, but lowered it subsequently. Factor … adjustment leads to a steady-state understatement of technology growth by measured productivity growth. The understatement was …Measured productivity growth increased substantially during the second half of the 1990s. This paper examines whether …

investment goods, while shocks to both kinds of technology are the only factors which affect labor productivity in the long run … 48 percent, a new finding which suggests that technology shocks are an important source of the business cycle. …

wage differential among homogenous unskilled workers. The skill premium arises from a skill-biased technology; the wage …