Productivity and the post-1990 U.S. economy

Ellen McGrattan and Edward Prescott

Review, 2005, vol. 87, issue Jul, 537-550

Abstract: In this paper, the authors show that ignoring corporate intangible investments gives a distorted picture of the post-1990 U.S. economy. In particular, ignoring intangible investments in the late 1990s leads one to conclude that productivity growth was modest, corporate profits were low, and corporate investment was at moderate levels. In fact, the late 1990s was a boom period for productivity growth, corporate profits, and corporate investment.

Keywords: Productivity; Economic history (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Productivity and the post-1990 U.S. economy (2005)
Working Paper: Productivity and the Post-1990 U.S. Economy (2005)
Working Paper: Productivity and the Post-1990 U.S. Economy (2004)
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