IDEAS home Printed from https://ideas.repec.org/a/sae/amerec/v43y1999i2p73-80.html
   My bibliography  Save this article

Demand: The Neglected Participant in the Long Run U.S. Productivity Record

Author

Listed:
  • John F. Walker
  • Harold G. Vatter

Abstract

Emphasizing the empirical record, demand influences in U.S. post-World War II economic history are shown to have played a focal role in the standard production function. Public spending appears to have been a strategic component of demand influence on productivity over extended periods. Neither capital nor labor shortages appear in the longest post-war expansions. Neither hours worked nor changes in capital stock regularly vary directly with output.

Suggested Citation

  • John F. Walker & Harold G. Vatter, 1999. "Demand: The Neglected Participant in the Long Run U.S. Productivity Record," The American Economist, Sage Publications, vol. 43(2), pages 73-80, October.
    • Handle: RePEc:sae:amerec:v:43:y:1999:i:2:p:73-80
    DOI: 10.1177/056943459904300208
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/056943459904300208
    Download Restriction: no
    File URL: https://libkey.io/10.1177/056943459904300208?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. John W. Kendrick & Beatrice N. Vaccara, 1980. "Introduction to "New Developments in Productivity Measurement and Analysis"," NBER Chapters, in: New Developments in Productivity Measurement and Analysis, pages 1-14, National Bureau of Economic Research, Inc.
    2. A. Steven Englander & Charles Steindel, 1989. "Evaluating recent trends in capital formation," Quarterly Review, Federal Reserve Bank of New York, vol. 14(Aut), pages 7-19.
    3. John W. Kendrick, 1961. "Productivity Trends in the United States," NBER Books, National Bureau of Economic Research, Inc, number kend61-1.
    4. Erich Streissler, 1980. "Models of Investment-Dependent Economic Growth Revisited," International Economic Association Series, in: R. C. O. Matthews (ed.), Economic Growth and Resources, chapter 8, pages 145-163, Palgrave Macmillan.
    5. Martin Neil Baily, 1981. "Productivity and the Services of Capital and Labor," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 12(1), pages 1-66.
    6. John F. Walker & Harold G. Vatter, 1982. "The Princess and the Pea; or, the Alleged Vietnam War Origins of the Current Inflation," Journal of Economic Issues, Taylor & Francis Journals, vol. 16(2), pages 597-608, June.
    7. John W. Kendrick, 1973. "Postwar Productivity Trends in the United States, 1948–1969," NBER Books, National Bureau of Economic Research, Inc, number kend73-1.
    8. John W. Kendrick & Beatrice N. Vaccara, 1980. "New Developments in Productivity Measurement and Analysis," NBER Books, National Bureau of Economic Research, Inc, number kend80-1.
    9. Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-698, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Angus Maddison, 1997. "Causal Influences on Productivity Performance 1820–1992: A Global Perspective," Journal of Productivity Analysis, Springer, vol. 8(4), pages 325-359, November.
    2. Wollmer, F.J. & Butter, F.A.G. den & Hassink, W.H.J., 1991. "Technical progress, endogenous growth and labour productivity : a survey," Serie Research Memoranda 0075, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    3. Robert E. Lipsey, 2010. "John W. Kendrick (1917–2009)," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(3), pages 647-650, September.
    4. Rosés, Joan R., 2008. "Proximate causes of economic growth in Spain, 1850-2000," IFCS - Working Papers in Economic History.WH wp08-12, Universidad Carlos III de Madrid. Instituto Figuerola.
    5. Dale W. Jorgenson, 2007. "Information Technology and the G7 Economies," NBER Chapters, in: Hard-to-Measure Goods and Services: Essays in Honor of Zvi Griliches, pages 325-350, National Bureau of Economic Research, Inc.
    6. Carol Corrado & Charles Hulten & Daniel Sichel, 2005. "Measuring Capital and Technology: An Expanded Framework," NBER Chapters, in: Measuring Capital in the New Economy, pages 11-46, National Bureau of Economic Research, Inc.
    7. Fedderke, Johannes W., 2018. "Exploring unbalanced growth: Understanding the sectoral structure of the South African economy," Economic Modelling, Elsevier, vol. 72(C), pages 177-189.
    8. Orman, Cuneyt & Goksel, Turkmen & Gurdal, Mehmet Y, 2011. "The Baby Boom, Baby Busts, and Grandmothers," MPRA Paper 28782, University Library of Munich, Germany.
    9. John Haltiwanger, 2002. "Understanding aggregate growth: The need for microeconomic evidence," New Zealand Economic Papers, Taylor & Francis Journals, vol. 36(1), pages 33-58.
    10. Diego Restuccia & Guillaume Vandenbroucke, 2014. "Explaining Educational Attainment across Countries and over Time," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(4), pages 824-841, October.
    11. Crafts, Nicholas, 2000. "Development history," Economic History Working Papers 22384, London School of Economics and Political Science, Department of Economic History.
    12. Dollar, David & Sokoloff, Kenneth, 1990. "Patterns of productivity growth in South Korean manufacturing industries, 1963-1979," Journal of Development Economics, Elsevier, vol. 33(2), pages 309-327, October.
    13. Godin, Benoit, 2004. "The New Economy: what the concept owes to the OECD," Research Policy, Elsevier, vol. 33(5), pages 679-690, July.
    14. Thirtle, Colin, 1986. "Problems in the Definition and Measurement of Technical Change and Productivity Growth in the U.K. Agricultural Sector," Manchester Working Papers in Agricultural Economics 232790, University of Manchester, School of Economics, Agricultural Economics Department.
    15. Harabi, Najib, 1994. "Technischer Fortschritt in der Schweiz: Empirische Ergebnisse aus industrieökonomischer Sicht [Technischer Fortschritt in der Schweiz:Empirische Ergebnisse aus industrieökonomischer Sicht]," MPRA Paper 6725, University Library of Munich, Germany.
    16. PETER B. DIXON & DAINA McDONALD, 1992. "A Decomposition of Changes in Labour Productivity in Australia: 1970‐71 to 1989‐90," The Economic Record, The Economic Society of Australia, vol. 68(2), pages 105-117, June.
    17. Travaglini, Giuseppe, 2012. "Trade-off between labor productivity and capital accumulation in Italian energy sector," Journal of Policy Modeling, Elsevier, vol. 34(1), pages 35-48.
    18. Rossitsa Rangelova, 2009. "Changing Determinants of the Economic Growth – Theoretical Base and Specifics of the Empirics," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 3-32.
    19. Nicholas Crafts & Pieter Woltjer, 2021. "Growth Accounting In Economic History: Findings, Lessons And New Directions," Journal of Economic Surveys, Wiley Blackwell, vol. 35(3), pages 670-696, July.
    20. Diego Restuccia & Guillaume Vandenbroucke, 2012. "A Century of Human Capital and Hours," Working Papers tecipa-450, University of Toronto, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:amerec:v:43:y:1999:i:2:p:73-80. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://journals.sagepub.com/home/aex .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.