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, which in turn feeds back to slower productivity growth. During the decade ending in 2014:Q4, U.S. real GDP grew at only 1 … productivity growth combine diminishing returns that have set in following the ICT revolution of the 1996-2004 "dot.com" era with a … activity among youth. While future productivity growth will be slower than before 2004, it will still continue as in the past …
Persistent link: https://www.econbiz.de/10012982246
Persistent link: https://www.econbiz.de/10008584565
During the four years 1995-99 U.S. productivity growth experienced a strong revival and achieved growth rates exceeding … Revolution even more important than the Second Industrial Revolution of 1860-1900, which made the golden age of productivity … growth possible. This paper dissects the recent productivity revival, subtracts out a cyclical component, and concludes that …
Persistent link: https://www.econbiz.de/10005560925
The author summarizes the report’s methods, findings, and recommendations, and then reviews the comments and criticisms that appeared soon after the report was issued. Changes in CPI methodology are also summarized and assessed, as is recent research on related issues. Based on recent...
Persistent link: https://www.econbiz.de/10005481845
Persistent link: https://www.econbiz.de/10005571231
Backcasting upward bias in price index over long periods of time yields levels of real consumption two or four centuries ago that are implausibly low, raising the possibility that price index bias for important products may have been zero or even negative at some point in the past. This paper...
Persistent link: https://www.econbiz.de/10005088632
-factor productivity (MFP) growth for the United States since 1870. The wave-like pattern starts with slow MFP growth in the late 19th …, there is no solution to the post-1972 productivity slowdown, and in the new data MFP growth during 1972-96 proceeds at a … boosting productivity growth, followed by a reopening that contributed to the post-1972 productivity slowdown. …
Persistent link: https://www.econbiz.de/10005722994
population. Future growth will be 1.3 percent per annum for labor productivity in the total economy, 0.9 percent for output per …, because that slowdown already occurred four decades ago. In the eight decades before 1972 labor productivity grew at an …
Persistent link: https://www.econbiz.de/10010821922
Tenant rental shelter is by far the most important component of the CPI, because it is used as a proxy for owner-occupied housing. This paper develops a wide variety of current and historical evidence dating back to 1914 to demonstrate that the CPI rent index is biased downward for all of the...
Persistent link: https://www.econbiz.de/10005088897
productivity and employment growth across groups of countries within Europe. Throughout the postwar era until 1995 labor … productivity grew faster in Europe than in the United States. In the decade after 1995, productivity growth in the EU-15 slowed … while that in the US accelerated. Europe’s productivity growth slowdown was largely offset by faster growth than the US in …
Persistent link: https://www.econbiz.de/10010550137