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The productivity slowdown and its policy implications

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  • Palle S. Andersen
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    Abstract

    This paper analyses the recent productivity slowdown, attempting to distinguish permanent from cyclical changes. It then considers the implications for anti-inflationary policies, discussing the short-run effects of more restrictive policies as well as the prospects for reducing inflation in the medium term.

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    File URL: http://www.bis.org/publ/work8.pdf
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    Bibliographic Info

    Paper provided by Bank for International Settlements in its series BIS Working Papers with number 8.

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    Length: 44 pages
    Date of creation: Mar 1983
    Date of revision:
    Handle: RePEc:bis:biswps:8

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    1. Martin Neil Baily, 1982. "The Productivity Growth Slowdown by Industry," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 13(2), pages 423-459.
    2. John A. Tatom, 1979. "The productivity problem," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Sep, pages 3-16.
    3. Barry P. Bosworth & Robert M. Solow & Lawrence H. Summers, 1982. "Capital Formation and Economic Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 13(2), pages 273-326.
    4. Michael R. Darby, 1983. "The U.S. Productivity Slowdown: A Case of Statistical Myopia," UCLA Economics Working Papers, UCLA Department of Economics 304, UCLA Department of Economics.
    5. John A. Tatom, 1981. "Energy prices and short-run economic performance," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Jan, pages 3-17.
    6. Robert H. Rasche & John A. Tatom, 1977. "The effects of the new energy regime on economic capacity, production, and prices," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue May, pages 2-12.
    7. Arthur M. Okun, 1973. "Upward Mobility in a High-Pressure Economy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(1), pages 207-262.
    8. Giersch, Herbert & Wolter, Frank, 1983. "Towards an Explanation of the Productivity Slowdown: An Acceleration-Deceleration Hypothesis," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 93(369), pages 35-55, March.
    9. Robert H. Rasche & John A. Tatom, 1977. "Energy resources and potential GNP," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Jun, pages 10-24.
    10. John A. Tatom, 1979. "Energy prices and capital formation: 1972-1977," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue May, pages 2-11.
    11. Peter K. Clark, 1979. "Issues in the Analysis of Capital Formation and Productivity Growth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 10(2), pages 423-446.
    12. Clark, Peter K, 1978. "Capital Formation and the Recent Productivity Slowdown," Journal of Finance, American Finance Association, American Finance Association, vol. 33(3), pages 965-75, June.
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