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Changing technology trends, transition dynamics and growth accounting Author info | Abstract | Publisher info | Download info | Related research | Statistics Michael R. Pakko
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The technology growth trends that underlie recent productivity patterns are investigated in a framework that incorporates investment-specific technological progress. Structural-break tests and regime-shifting models reveal the presence of a downward shift in TFP growth in the late 1960s and an upward shift in investment-specific technology growth in the mid-1980s. In both cases, these breaks precede observed changes in labor productivity growth by several years. Simulations of technology growth shocks in a basic neoclassical model show that induced patterns of capital accumulation are consistent with the observed lags between technological advances and changes in productivity growth.
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Paper provided by Federal Reserve Bank of St. Louis in its series Working Papers with number
2000-014.
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Date of creation: 2005Date of revision:
Publication status: Published in Contributions to Macroeconomics, 2005, 5(1), Article 12Handle: RePEc:fip:fedlwp:2000-014Contact details of provider: Postal: P.O. Box 442, St. Louis, MO 63166 Fax: (314)444-8753 Web page: http://www.stlouisfed.org/ More information through EDIRC
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Keywords: Technology ; Productivity ; Other versions of this item:
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Peter N. Ireland & Scott Schuh, 2006.
"Productivity and U.S. Macroeconomic Performance: Interpreting the Past and Predicting the Future with a Two-Sector Real Business Cycle Model ,"
Boston College Working Papers in Economics
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Peter N. Ireland & Scott Schuh, 2007.
"Productivity and U.S. Macroeconomic Performance: Interpreting the Past and Predicting the Future with a Two-Sector Real Business Cycle Model ,"
NBER Working Papers
13532, National Bureau of Economic Research, Inc.
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06-10, Federal Reserve Bank of Boston.
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"Productivity and U.S. Macroeconomic Performance: Interpreting the Past and Predicting the Future with a Two-Sector Real Business Cycle Model ,"
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Peter N. Ireland, 2007.
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Diego Martínez & Jesús Rodríguez-López & José L. Torres, 2008.
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