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

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  • Gordon, Robert J.

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.

Suggested Citation

  • Gordon, Robert J., 2010. "Revisiting U. S. productivity Growth over the Past Century with a View of the Future," CEPR Discussion Papers 7991, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:7991
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    More about this item

    Keywords

    Capital quality; Human capital; Labor quality; Labour productivity; Long-term economic growth; Multi-factor productivity; U. s. economic history;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913
    • N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-

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