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revolution began, however, several decades passed before measured productivity growth increased. This delay is paradoxical from …
Persistent link: https://www.econbiz.de/10013212571
During the four years 1995-99 U. S. productivity growth experienced a strong revival and achieved growth rates … transport, motion pictures, radio, indoor plumbing, and made the golden age of productivity growth possible. This paper raises … doubts about the validity of this comparison with the Great Inventions of the past. It dissects the recent productivity …
Persistent link: https://www.econbiz.de/10013226064
expansion, a stock market boom, a financing boom for new firms and productivity gains. In this paper, we propose an … production. We show that the mere prospect of high future productivity growth can generate sizable gains in current productivity …
Persistent link: https://www.econbiz.de/10013242892
The present study is the third in a series of three papers devoted to issues in the measurement of productivity and … productivity growth. The major findings are as follows. First, this study shows that the new data set used here, which develops … useful supplement to existing data sets. Second, there has clearly been a rebound in labor-productivity growth in recent …
Persistent link: https://www.econbiz.de/10013216101
leaders. We find strong evidence of technological diffusion but not full convergence; differences in total factor productivity …
Persistent link: https://www.econbiz.de/10013240307
We propose a framework for understanding recurrent historical episodes of vigorous economic expansion accompanied by extreme asset valuations, as exhibited by the U.S. in the 1990s. We interpret this phenomenon as a high-valuation equilibrium with a low effective cost of capital based on...
Persistent link: https://www.econbiz.de/10012762624
productivity growth but may have mixed effects on labor, particularly in the short run. In particular, some occupations and … that may help to boost productivity growth while also mitigating any labor market downsides including evaluating the pros …
Persistent link: https://www.econbiz.de/10012916895
I speculate that technological spillover effects may have become more important over time as IT penetrated the U.S. economy. The rationale is that IT may speed up the process of knowledge transfer and make these knowledge spillovers more effective. Using US input-output tables for years 1958,...
Persistent link: https://www.econbiz.de/10013068477
position variables and the potential spilover pool in explaining R&D intensity, patent productivity and TFP growth is explored … effects are significant in explaining patent productivity. I cannot distinguish between the two effects in explaining TFP … firms do more R&D themselves, they produce more patents per R&D dollar, and their productivity grows faster, even …
Persistent link: https://www.econbiz.de/10013225580
In this paper we: (1) estimate the effects of international R&D spillovers on total factor productivity growth of the …
Persistent link: https://www.econbiz.de/10013322116