US productivity slowdown: a case of statistical myopia
The author argues that the productivity panic is based upon statistical myopia, and that a careful analysis within the perspective of the entire 20th century discloses no substantial variation in what is described as growth in total factor productivity or technical progress. He finds no substantial variations in trend growth rates of private labor productivity since 1900 if reasonable adjustments are made for the effects of demographic trends on the average quality of labor. Even if one were to ignore the effects of demographic shifts, the measured growth rates of productivity, total private hours, and private employment have essentially the same values in 1956-79 as for 1900-29. Some of the primary data base for the paper appears in the appendix. 39 references, 3 figures, 9 tables.
- Research Organization:
- Univ. of California, Los Angeles
- OSTI ID:
- 6692314
- Journal Information:
- Am. Econ. Rev.; (United States), Vol. 74:3
- Country of Publication:
- United States
- Language:
- English
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