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Technological Change and U.S. Productivity Growth in the Interwar Years

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  • FIELD, ALEXANDER J.

Abstract

Manufacturing contributed almost all 83 percent of the growth of total factor productivity in the U.S. private nonfarm economy between 1919 and 1929. During the depression manufacturing TFP growth was not as uniformly distributed, and only half as rapid, accounting for only 48 percent of PNE TFP growth. Yet the overall growth of the residual between 1929 and 1941 was the highest of any comparable period in the twentieth century. This resulted from the combination of a still potent manufacturing contribution with advances in transportation, public utilities, and distribution, fueled in part by investments in public infrastructure.

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Bibliographic Info

Article provided by Cambridge University Press in its journal The Journal of Economic History.

Volume (Year): 66 (2006)
Issue (Month): 01 (March)
Pages: 203-236

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Handle: RePEc:cup:jechis:v:66:y:2006:i:01:p:203-236_00

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Cited by:
  1. Harrison, Sharon & Weder, Mark, 2009. "Technological change and the roaring twenties: A neoclassical perspective," Journal of Macroeconomics, Elsevier, vol. 31(3), pages 363-375, September.
  2. Field, Alexander J., 2009. "US economic growth in the gilded age," Journal of Macroeconomics, Elsevier, vol. 31(1), pages 173-190, March.
  3. McCloskey, Deirdre Nansen, 2009. "Science, Bourgeois Dignity, and the Industrial Revolution," MPRA Paper 22308, University Library of Munich, Germany.
  4. Herman De Jong & Pieter Woltjer, 2011. "Depression dynamics: a new estimate of the Anglo‐American manufacturing productivity gap in the interwar period," Economic History Review, Economic History Society, vol. 64(2), pages 472-492, 05.
  5. Jean Luc De Meulemeester, 2009. "A comment on "US Economic Growth in the Gilded Age"," ULB Institutional Repository 2013/147670, ULB -- Universite Libre de Bruxelles.
  6. Adam S. Posen, 2010. "The Central Banker's Case for Doing More," Policy Briefs PB10-24, Peterson Institute for International Economics.
  7. repec:cge:warwcg:146 is not listed on IDEAS
  8. Greasley, David & Hanley, Nicholas & Kunnas, Jan & McLaughlin, Eoin & Oxley, Les & Warde, Paul, 2013. "Comprehensive investment and future well-being in the USA, 1869-2000," Stirling Economics Discussion Papers 2013-06, University of Stirling, Division of Economics.
  9. Klein, Alexander & Otsuy, Keisuke, 2013. "Efficiency, Distortions and Factor Utilization during the Interwar Period," CAGE Online Working Paper Series 147, Competitive Advantage in the Global Economy (CAGE).
  10. Alex Klein & Keisuke Otsu, 2013. "Efficiency, Distortions and Factor Utilization during the Interwar Period," Studies in Economics 1317, Department of Economics, University of Kent.
  11. Alexander J. Field, 2011. "The Adversity/Hysteresis Effect: Depression-Era Productivity Growth in the U.S. Railroad Sector," NBER Chapters, in: The Rate and Direction of Inventive Activity Revisited, pages 579-606 National Bureau of Economic Research, Inc.
  12. Jong, H. de & Woltjer, P., 2009. "A Comparison of Real Output and Productivity for British and American Manufacturing in 1935," GGDC Research Memorandum GD-108, Groningen Growth and Development Centre, University of Groningen.
  13. Henry Willebald, 2013. "Distributive patterns in settler economies: agrarian income inequality during the first globalization (1870-1913)," Documentos de Trabajo (working papers) 13-05, Instituto de Economía - IECON.
  14. Landon-Lane, John S. & Robertson, Peter E., 2009. "Long-run growth in the OECD: A test of the parallel growth paths hypothesis," Explorations in Economic History, Elsevier, vol. 46(3), pages 346-355, July.

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