The Labor Productivity Puzzle - Federal Reserve Bank of Minneapolis
... fall by more than GDP in percentage terms. By measuring labor productivity as the ratio of GDP to total labor input, one underestimates the fall in total output, which is measured output plus all unmeasured investment, and therefore underestimates the fall in actual labor productivity. In other word ...
... fall by more than GDP in percentage terms. By measuring labor productivity as the ratio of GDP to total labor input, one underestimates the fall in total output, which is measured output plus all unmeasured investment, and therefore underestimates the fall in actual labor productivity. In other word ...
Principles of Economics, Case and Fair,9e
... From Agriculture to Industry: The Industrial Revolution ...
... From Agriculture to Industry: The Industrial Revolution ...
NBER WORKING PAPER SERIES INVESTMENT, CAPACITY, AND UNCERTAINTY: A PUTTY-CLAY APPROACH Simon Gilchrist
... In real business cycle models that emphasize the role of embodied technological change, technological booms are driven by increases in the mean level of productivity of investment projects. In this paper, we investigate the macroeconomic consequences of changes in the variance of productivity of inv ...
... In real business cycle models that emphasize the role of embodied technological change, technological booms are driven by increases in the mean level of productivity of investment projects. In this paper, we investigate the macroeconomic consequences of changes in the variance of productivity of inv ...
[The Macroeconomics of War and Peace
... and Woodford (1992) have shown, productivity and real wages also rose together with military purchases after World War I1 even though GOPO did not exhibit unusual growth during the Korean or Vietnam Wars. Whatever led productivity and real wages to rise in this other period must have been at work in ...
... and Woodford (1992) have shown, productivity and real wages also rose together with military purchases after World War I1 even though GOPO did not exhibit unusual growth during the Korean or Vietnam Wars. Whatever led productivity and real wages to rise in this other period must have been at work in ...
GLOBAL GROWTH: CAN PRODUCTIVITY SAVE THE DAY IN AN
... Growth in the labor force was fueled by two demographic trends. The first was brisk population growth, reflecting initially high fertility rates, falling infant-mortality rates, and lengthening life expectancy as hygiene and health-care provision advanced and expanded, and casualties of war were red ...
... Growth in the labor force was fueled by two demographic trends. The first was brisk population growth, reflecting initially high fertility rates, falling infant-mortality rates, and lengthening life expectancy as hygiene and health-care provision advanced and expanded, and casualties of war were red ...
Secular Stagnation on the Supply Side
... growth but rather to the slowing of U.S. potential real GDP growth to half or less of its historical pace. The retardation of potential real GDP growth matters both because of its direct impact on the standard of living and also because of its indirect effect on net investment, which in turn feeds b ...
... growth but rather to the slowing of U.S. potential real GDP growth to half or less of its historical pace. The retardation of potential real GDP growth matters both because of its direct impact on the standard of living and also because of its indirect effect on net investment, which in turn feeds b ...
The Productivity Conundrum, Explanations and Preliminary Analysis
... This pattern was not repeated in the latest episode. Between early 2009 and mid-2010 productivity rose at a rate only slightly slower than in previous recessions. But whereas productivity growth then started to pick up quite sharply, this time it has flattened off since the middle of 2010. It did no ...
... This pattern was not repeated in the latest episode. Between early 2009 and mid-2010 productivity rose at a rate only slightly slower than in previous recessions. But whereas productivity growth then started to pick up quite sharply, this time it has flattened off since the middle of 2010. It did no ...
Sources of Economic Growth and Stagnation in Iran
... and the war cannot explain all of the productivity differentials; for if it did, a reversal of the productivity decline would have been observed in 1988 when the war ended and the oil revenues were on the rise again. But that is not the case. TFP growth rates are actually negative in the 1990’s. In ...
... and the war cannot explain all of the productivity differentials; for if it did, a reversal of the productivity decline would have been observed in 1988 when the war ended and the oil revenues were on the rise again. But that is not the case. TFP growth rates are actually negative in the 1990’s. In ...
DP2003/07 Has the rate of economic growth changed?
... recession has ended. This uncertainty arises because income and employment are telling very different stories about recovery. Income has clearly recovered, while employment lingers near its trough level.3 This increase in income with flat employment is arithmetically equivalent to the increase in pr ...
... recession has ended. This uncertainty arises because income and employment are telling very different stories about recovery. Income has clearly recovered, while employment lingers near its trough level.3 This increase in income with flat employment is arithmetically equivalent to the increase in pr ...
Productivity and Competitiveness Indicators 1990 to 2000
... and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital productivity, the ratio of real output to stock of fixed capital used in the production proces ...
... and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital productivity, the ratio of real output to stock of fixed capital used in the production proces ...
Lecture 17
... Saving and investment in new capital increase the amount of capital per worker and increase human productivity. Production methods that use large amounts of capital per worker (such as assembly lines) are much more ECON productive than using hand tools. ...
... Saving and investment in new capital increase the amount of capital per worker and increase human productivity. Production methods that use large amounts of capital per worker (such as assembly lines) are much more ECON productive than using hand tools. ...
FACTOR PRODUCTIVITY AND EFFICIENCY OF THE VIETNAMESE ECONOMY IN TRANSITION
... each input is not observable and must be estimated from production function using the share of observable factor income. As such, the output growth in a given period can be explained by the growth of each input weighted by its income share. The remaining residual is known as TFP. This approach is qu ...
... each input is not observable and must be estimated from production function using the share of observable factor income. As such, the output growth in a given period can be explained by the growth of each input weighted by its income share. The remaining residual is known as TFP. This approach is qu ...
Document
... • So, labor productivity growth exceeds TFP growth because of faster growth of capital relative to growth of labor • ICT growth (information and communications technology) may have been a prime reason ...
... • So, labor productivity growth exceeds TFP growth because of faster growth of capital relative to growth of labor • ICT growth (information and communications technology) may have been a prime reason ...
Document
... The amount of fish he catches everyday is the total product, total income and total expenditure of the Robinson-crusoe economy. ...
... The amount of fish he catches everyday is the total product, total income and total expenditure of the Robinson-crusoe economy. ...
Word - Statistics Mauritius
... and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital productivity, the ratio of real output to stock of fixed capital used in the production proces ...
... and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital productivity, the ratio of real output to stock of fixed capital used in the production proces ...
Chapter 17 - McGraw Hill Higher Education
... Land and other natural resources Technology Entrepreneurship and management Political and legal environment ©2012 The McGraw-Hill Companies, All Rights Reserved ...
... Land and other natural resources Technology Entrepreneurship and management Political and legal environment ©2012 The McGraw-Hill Companies, All Rights Reserved ...
Productivity and Competitiveness Indicators 1990 to 2000
... and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital productivity, the ratio of real output to stock of fixed capital used in the production proces ...
... and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital productivity, the ratio of real output to stock of fixed capital used in the production proces ...
Chapter Problems Frank and Bernanke Chapters 17
... relative price of gas, rather than general inflation. Most striking, the relative price of gas fell 27% in 1986, even as the general inflation rate was positive. 8. Woodrow has two options (Example 19.8). First, he can go to the bank once per week; in this case his average cash holding at the beginn ...
... relative price of gas, rather than general inflation. Most striking, the relative price of gas fell 27% in 1986, even as the general inflation rate was positive. 8. Woodrow has two options (Example 19.8). First, he can go to the bank once per week; in this case his average cash holding at the beginn ...
Resource Allocation and Productivity in Agriculture
... differences in average farm size among developed countries and farm size is determined by a variety of factors, including land endowments, geographical conditions and all sorts of other aggregate variables in the economy such as total factor productivity (TFP), the aggregate amount of capital in the ...
... differences in average farm size among developed countries and farm size is determined by a variety of factors, including land endowments, geographical conditions and all sorts of other aggregate variables in the economy such as total factor productivity (TFP), the aggregate amount of capital in the ...
Productivity Theory and Drivers - Office for National Statistics
... Growth accounting decomposes growth, but does not explain the process of technological change (HMT, 2006). The growth accounting framework acts as a mechanism for breaking down the sources of economic growth into the contributions from increases in capital, labour and other factors. When these facto ...
... Growth accounting decomposes growth, but does not explain the process of technological change (HMT, 2006). The growth accounting framework acts as a mechanism for breaking down the sources of economic growth into the contributions from increases in capital, labour and other factors. When these facto ...
Productivity and Competitiveness Indicators 1990 to 2000
... Productivity expresses the relationship between the output of goods and services (real output) and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital ...
... Productivity expresses the relationship between the output of goods and services (real output) and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital ...
Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights
... Work by lowering production costs (e.g., allowed automobiles within the reach of the average ...
... Work by lowering production costs (e.g., allowed automobiles within the reach of the average ...
DOES GREEN INVESTMENT RAISE PRODUCTIVITY? Salifou
... Second, it takes care of the potential parameter inconsistency that arises from simultaneity bias when lagged dependent values of the original regressors are used as instruments (Beck and Levine, 2004). Third, it takes care of simultaneity of productivity growth, in the case of this paper, and the d ...
... Second, it takes care of the potential parameter inconsistency that arises from simultaneity bias when lagged dependent values of the original regressors are used as instruments (Beck and Levine, 2004). Third, it takes care of simultaneity of productivity growth, in the case of this paper, and the d ...
Treasury Working Paper 2013-02: Long-term
... 2004). In this sense, the convergence framework is conditional rather than absolute, as countries’ steady-state (or long-run) productivities are allowed to vary depending on the individual characteristics of each country. The projection framework adopted here draws heavily on the existing conditiona ...
... 2004). In this sense, the convergence framework is conditional rather than absolute, as countries’ steady-state (or long-run) productivities are allowed to vary depending on the individual characteristics of each country. The projection framework adopted here draws heavily on the existing conditiona ...
in America Manufacturing The Myth and the Reality of Michael J. Hicks, PhD
... products will add to overall GDP growth, while consumption by American households of imported goods that compete with U.S. firms will reduce GDP. International competition is dependent on production costs and productivity and transport costs of goods. A closer examination of productivity yields some ...
... products will add to overall GDP growth, while consumption by American households of imported goods that compete with U.S. firms will reduce GDP. International competition is dependent on production costs and productivity and transport costs of goods. A closer examination of productivity yields some ...