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Where has all the productivity growth gone?

Author

Listed:
  • Jake Fabina
  • Mark L. J. Wright

Abstract

The productivity of an economy is a measure of the efficiency with which that economy uses its resources?such as its labor and investments in capital?to produce valuable goods and services. Productivity is important because growth in the amount of goods and services produced for a given amount of labor and capital is the ultimate determinant of growth in living standards in an economy over time.

Suggested Citation

  • Jake Fabina & Mark L. J. Wright, 2013. "Where has all the productivity growth gone?," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Jan.
    • Handle: RePEc:fip:fedhle:y:2013:i:jan:n:306
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    File URL: http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2013/cfljanuary2013_306.pdf
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    Citations

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    Cited by:

    1. Callaghan, Christian William, 2021. "Growth contributions of technological change: Is there a burden of knowledge effect?," Technological Forecasting and Social Change, Elsevier, vol. 172(C).
    2. Sergi Basco & David López-Rodríguez & Enrique Moral-Benito, 2021. "House prices and misallocation: The impact of the collateral channel on productivity," Working Papers 2135, Banco de España.

    More about this item

    Keywords

    Productivity; Labor productivity;

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