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Exploding Productivity Growth: Context, Causes, and Implications

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  • Robert J. Gordon

    (Northwestern University)

Abstract

This paper provides a new breakdown of past U.S. economic growth into its trend and cyclical components, using a mix of detrending methods. This decomposition is then used to interpret the extraordinary productivity performance of the U.S. economy since 1995 and especially since mid-2000. The paper then discusses some issues involved in projecting the components of the output identity over long periods, and reports forecasts of growth in U.S. potential real GDP over the next two decades.

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Bibliographic Info

Article provided by Economic Studies Program, The Brookings Institution in its journal Brookings Papers on Economic Activity.

Volume (Year): 34 (2003)
Issue (Month): 2 ()
Pages: 207-298

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Handle: RePEc:bin:bpeajo:v:34:y:2003:i:2003-2:p:207-298

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Keywords: macroeconomics; Productivity Growth; Context; Causes; Implications;

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Robert Gordon’s sequel paper on the great stagnation
    by Tyler Cowen in Marginal Revolution on 2014-02-18 11:49:04
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