Productivity and the post-1990 U.S. economy

Ellen McGrattan and Edward Prescott

No 350, Staff Report from Federal Reserve Bank of Minneapolis

Abstract: In this paper, we 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: Industrial; productivity (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-dge, nep-eff and nep-mac
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Citations: View citations in EconPapers (1)

Published in Federal Reserve Bank of St. Louis Review> (Vol. 87, No. 4, July/August 2005, pp. 537-549)

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Related works:
Journal Article: 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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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedmsr:350

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