Productivity measurement issues in services industries: "Baumol's disease" has been cured
AbstractThis paper was presented at the conference "Economic Statistics: New Needs for the Twenty-First Century," cosponsored by the Federal Reserve Bank of New York, the Conference on Research in Income and Wealth, and the National Association for Business Economics, July 11, 2002. The authors document that labor productivity growth in the services industries after 1995 was a broad acceleration, not just confined to one or two industries, as has sometimes been supposed. They also examine the sources of labor productivity growth: a great expansion in services industry multifactor productivity (MFP) after 1995, information technology (IT) investment, and purchased intermediate inputs.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Economic Policy Review.
Volume (Year): (2003)
Issue (Month): Sep ()
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- Martin Neil Baily & Robert J. Gordon, 1988. "The Productivity Slowdown, Measurement Issues, and the Explosion of Computer Power," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(2), pages 347-432.
- Baumol, William J, 1972. "Macroeconomics of Unbalanced Growth: Reply," American Economic Review, American Economic Association, vol. 62(1), pages 150, March.
- Bates, Laurie & Santerre, Rexford, 2013. "Is the U.S. Private Education Sector Infected by Baumol’s Cost Disease? Evidence from the 50 States," MPRA Paper 52300, University Library of Munich, Germany.
- Jochen Hartwig, 2007. "Ist die «Baumol’sche Krankheit» geheilt?," KOF Analysen, KOF Swiss Economic Institute, ETH Zurich, vol. 1(4), pages 23-31, December.
- Erik van der Marel, 2011. "Trade in services and TFP: the role of regulation," LSE Research Online Documents on Economics 38991, London School of Economics and Political Science, LSE Library.
- Jochen Hartwig, 2005. "Sind unsere gesamtwirtschaftlichen Probleme überhaupt lösbar?," KOF Working papers 05-112, KOF Swiss Economic Institute, ETH Zurich.
- Bates, Laurie J. & Santerre, Rexford E., 2013. "Does the U.S. health care sector suffer from Baumol's cost disease? Evidence from the 50 states," Journal of Health Economics, Elsevier, vol. 32(2), pages 386-391.
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