Overall growth rates mean different things to different people. Hence, they can easily misrepresent what happens to living standards and "quality of life". This paper focuses on patterns and interrelationships between the size and the distribution of the dividends of growth, not on summary...

Aggregate labor productivity (ALP) growth--i.e., growth of output per unit of labor--may be decomposed into additive contributions due to within-sector productivity growth effect, dynamic structural reallocation effect (Baumol effect), and static structural reallocation effect (Denison effect)...