Revisiting U. S. productivity Growth over the Past Century with a View of the Future

Robert J. Gordon

No 7991, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper provides three perspectives on long-run growth rates of labor productivity (LP) and of multi-factor productivity (MFP) for the U. S. economy. It extracts statistical growth trends for labor productivity from quarterly data for the total economy going back to 1952, provides new estimates of MFP growth extending back to 1891, and tackles the problem of forecasting LP and MFP twenty years into the future.

Keywords: Capital quality; Human capital; Labor quality; Labour productivity; Long-term economic growth; Multi-factor productivity; U. s. economic history (search for similar items in EconPapers)
JEL-codes: D24 E01 E22 N1 N11 N12 (search for similar items in EconPapers)
Date: 2010-09
References: View complete reference list from CitEc
Citations: View citations in EconPapers (41)

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