Published October 19, 2017
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The Slowdown in Productivity Advances: A Dynamic Explanation
- Creators
- Klein, Burton H.
Abstract
How is the slowdown in the U.S. rate of productivity advance (see Figures I and II) to be explained? Quite obviously, before it can be explained the principal determinants of the rate of productivity advance need to be known. Many people believe that productivity advances are quite automatic, and were it not for such external factors as regulation and inflation or the declining growth rate there would be no slowdown. But without knowing what determines the rate of productivity increase how can we be sure?
Additional Information
Acknowledgments: The present draft of this paper benefited from criticisms of previous drafts by Ronald Braeutigam, Bruce Cain, Chris Hill, Roger Noll, Edward Posner, Louis Wilde, and James Quirk. David Feinstein and Natalie Gluck, two undergraduate students at Caltech, did the computer work associated with explaining the dynamics of inflation. This paper has been published in Technological Innovation for a Dynamic Economy, edited by Christopher T. Hill and James M. Utterback, pp. 66-117. New York: Pergamon Press, Inc., 1979. The project was sponsored by the Center for Policy Alternatives at Massachusetts Institute of Technology.Attached Files
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Additional details
- Eprint ID
- 82462
- Resolver ID
- CaltechAUTHORS:20171018-141622285
- Massachusetts Institute of Technology (MIT)
- Created
-
2017-10-19Created from EPrint's datestamp field
- Updated
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2019-10-03Created from EPrint's last_modified field
- Caltech groups
- Social Science Working Papers
- Series Name
- Social Science Working Paper
- Series Volume or Issue Number
- 247