a speech at the C. Peter McColough Roundtable Series on International Economics, Council on Foreign Relations, New York, New York, January 19, 2005, and at the C. Peter McColough Roundtable Series on International Economics, Council on Foreign Relations, New York, New York, on January 19, 2005

a speech before Leadership South Carolina, Greenville, South Carolina

At a macroeconomic level, infrastructure and productivity are positively correlated in the United States and other countries. However, it remains unclear whether this correlation reflects causation, and if so, whether causation runs from infrastructure to productivity, or the reverse. This paper...

This paper presents a comparative study of the level of unit labor costs in the manufacturing sectors of several countries. The paper begins by surveying earlier estimates of relative productivity and unit labor cost levels and evaluating the various methodologies that have been used in previous...

Productivity rises in booms and falls in recessions. There are four main explanations for procyclical productivity: (i) procyclical technology shocks, (ii) widespread imperfect competition and increasing returns, (iii) variable utilization of inputs over the cycle, and (iv) resource...