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The Slowdown in Productivity Advances: A Dynamic Explanation

Klein, Burton H. (1979) The Slowdown in Productivity Advances: A Dynamic Explanation. Social Science Working Paper, 247. California Institute of Technology , Pasadena, CA. (Unpublished) http://resolver.caltech.edu/CaltechAUTHORS:20171018-141622285

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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?


Item Type:Report or Paper (Working Paper)
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.
Group:Social Science Working Papers
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Massachusetts Institute of Technology (MIT)UNSPECIFIED
Record Number:CaltechAUTHORS:20171018-141622285
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20171018-141622285
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Deposited By: Jacquelyn Bussone
Deposited On:19 Oct 2017 18:47
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