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A New Interpretation of Productivity Growth Dynamics in the Pre-Pandemic and Pandemic Era U.S. Economy, 1950-2022
Gordon, Robert J.; Sayed, Hassan - 2022
The dismal decade of 2010-19 recorded the slowest productivity growth of any decade in U.S. history, only 1.1 percent per year in the business sector. Yet the pandemic appears to have created a resurgence in productivity growth with a 4.1 percent rate achieved in the four quarters of 2020. This...
Persistent link: https://www.econbiz.de/10014080444
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A New Interpretation of Productivity Growth Dynamics in the Pre-Pandemic and Pandemic Era U.S. Economy, 1950-2022
Gordon, Robert J.; Sayed, Hassan - National Bureau of Economic Research - 2022
The dismal decade of 2010-19 recorded the slowest productivity growth of any decade in U.S. history, only 1.1 percent per year in the business sector. Yet the pandemic appears to have created a resurgence in productivity growth with a 4.1 percent rate achieved in the four quarters of 2020. This...
Persistent link: https://www.econbiz.de/10013334484
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US inflation, labor's share, and the natural rate of unemployment
Gordon, Robert J. - 1988
Persistent link: https://www.econbiz.de/10000752434
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Foundations of the goldilocks economy : supply shocks and the time-varying NAIRU
Gordon, Robert J. - In: Brookings papers on economic activity : BPEA (1998) 2, pp. 297-346
Persistent link: https://www.econbiz.de/10001364522
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Productivity growth, inflation, and unemployment : the collected essays of Robert J. Gordon
Gordon, Robert J. - 2004 - 1. publ.
Persistent link: https://www.econbiz.de/10001700490
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Price inertia and policy ineffectiveness in the United States, 1890-1980
Gordon, Robert J. - 1981
Persistent link: https://www.econbiz.de/10002470688
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U.S. Inflation, Labor's Share, and the Natural Rate of Unemployment
Gordon, Robert J. - 1988
matters for stabilization policy is the rate of inflation, not the rate of wage change. This paper provides new estimates of … result in the paper is that wage changes do not contribute statistically to the explanation of inflation. Deviations in the … growth of labor cost from the path of inflation cause changes in labor's income share, and changes in the profit share in the …
Persistent link: https://www.econbiz.de/10012476483
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Price Inertia and Policy Ineffectiveness in the United States, 1890-1980
Gordon, Robert J. - 1981
This paper introduces a new approach to the empirical testing of the Lucas- Sargent-Wallace (LSW) "policy ineffectiveness proposition." Instead of testing that hypothesis in isolation from any plausible alternative, the paper develops a single empirical equation explaining price change that...
Persistent link: https://www.econbiz.de/10012478371
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Price Inertia and Policy Ineffectiveness in the United States, 1890-1980
Gordon, Robert J. - 2022
This paper introduces a new approach to the empirical testing of the Lucas- Sargent-Wallace (LSW) "policy ineffectiveness proposition." Instead of testing that hypothesis in isolation from any plausible alternative, the paper develops a single empirical equation explaining price change that...
Persistent link: https://www.econbiz.de/10013308508
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U.S. Inflation, Labor'S Share, and the Natural Rate of Unemployment
Gordon, Robert J. - 2021
matters for stabilization policy is the rate of inflation, not the rate of wage change. This paper provides new estimates of … result in the paper is that wage changes do not contribute statistically to the explanation of inflation. Deviations in the … growth of labor cost from the path of inflation cause changes in labor's income share, and changes in the profit share in the …
Persistent link: https://www.econbiz.de/10013218329