Slowdown in productivity growth: analysis of some contributing factors

Journal Article · Mon Jan 01 04:00:00 EST 1979 · Brookings Pap. Econ. Act.; (United States)

DOI:https://doi.org/10.2307/2534388· OSTI ID:5626646

Norsworthy, J R; Harper, M J; Kunze, K

The two-thirds drop in labor productivity during the 1970s, which led to slower economic growth and higher prices, is analyzed and the results compared with those of other studies. The authors' investigation focuses on that portion of private business covered by US Bureau of Labor Statistics. Their approach weights capital and labor growth rates by their shares in the business sector's gross domestic product. Contributing factors are limited to those that can be quantified and adapted and whose effects can be shown to be greater during the slowdown period. Two periods of slowdown are identified: 1965-1973 and 1973-1978. The two periods differ in that the latter is dominated by reduced capital formation, due partially to energy price increases, and shows the effects of an interindustry shift in labor and capital. 46 references, 13 tables. (DCK)

• Research Organization: Bureau of Labor Statistics, Washington, DC
• OSTI ID: 5626646
• Journal Information: Brookings Pap. Econ. Act.; (United States), Journal Name: Brookings Pap. Econ. Act.; (United States) Vol. 2; ISSN BPEAD
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
CAPITAL
ECONOMIC ANALYSIS
ECONOMIC GROWTH
ECONOMICS
GROSS DOMESTIC PRODUCT
LABOR
PRICES
PRODUCTIVITY