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The Economics of New Goods

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  • Bresnahan, Timothy F.
  • Gordon, Robert J.

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Abstract

New goods are at the heart of economic progress. The eleven essays in this volume include historical treatments of new goods and their diffusion; practical exercises in measurement addressed to recent and ongoing innovations; and real-world methods of devising quantitative adjustments for quality change. The lead article in Part I contains a striking analysis of the history of light over two millenia. Other essays in Part I develop new price indexes for automobiles back to 1906; trace the role of the air conditioner in the development of the American south; and treat the germ theory of disease as an economic innovation. In Part II essays measure the economic impact of more recent innovations, including anti-ulcer drugs, new breakfast cereals, and computers. Part III explores methods and defects in the treatment of quality change in the official price data of the United States, Canada, and Japan. This pathbreaking volume will interest anyone who studies economic growth, productivity, and the American standard of living.

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Bibliographic Info

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This book is provided by University of Chicago Press in its series National Bureau of Economic Research Books with number 9780226074153 and published in 1997.

Edition: 1
ISBN: 9780226074153
Order: http://press.uchicago.edu/ucp/books/book/isbn/9780226074153.html
Handle: RePEc:ucp:bknber:9780226074153

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Web page: http://press.uchicago.edu

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Cited by:
  1. Anonymous, 2005. "Antitrust Analysis of Supermarket Retailing: Common Global Concerns that Play Out in Local Markets," 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia, Australian Agricultural and Resource Economics Society 137831, Australian Agricultural and Resource Economics Society.
  2. Gordon, Robert J, 2000. "Does the 'New Economy' Measure up to the Great Inventions of the Past?," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2607, C.E.P.R. Discussion Papers.
  3. Robert J. Gordon, 2000. "Interpreting the "One Big Wave" in U.S. Long-Term Productivity Growth," NBER Working Papers 7752, National Bureau of Economic Research, Inc.
  4. Robert J. Gordon, 2004. "Why was Europe Left at the Station When America's Productivity Locomotive Departed?," NBER Working Papers 10661, National Bureau of Economic Research, Inc.
  5. Robert J. Gordon, 1999. "U.S. Economic Growth since 1870: One Big Wave?," American Economic Review, American Economic Association, American Economic Association, vol. 89(2), pages 123-128, May.

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