Productivity and the post-1990 U.S. economy
AbstractIn this paper, we show that ignoring corporate intangible investments gives a distorted picture of the post-1990 U.S. economy. In particular, ignoring intangible investments in the late 1990s leads one to conclude that productivity growth was modest, corporate profits were low, and corporate investment was at moderate levels. In fact, the late 1990s was a boom period for productivity growth, corporate profits, and corporate investment.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 350.
Date of creation: 2005
Date of revision:
Publication status: Published in Federal Reserve Bank of St. Louis Review> (Vol. 87, No. 4, July/August 2005, pp. 537-549)
Other versions of this item:
- Ellen R. McGrattan & Edward C. Prescott, 2004. "Productivity and the Post-1990 U.S. Economy," Levine's Bibliography 122247000000000710, UCLA Department of Economics.
- Ellen McGrattan & Edward Prescott, 2005. "Productivity and the Post-1990 U.S. Economy," 2005 Meeting Papers 274, Society for Economic Dynamics.
- NEP-ALL-2005-05-23 (All new papers)
- NEP-DGE-2005-05-23 (Dynamic General Equilibrium)
- NEP-EFF-2005-05-23 (Efficiency & Productivity)
- NEP-MAC-2005-05-23 (Macroeconomics)
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.:
- Ellen R. McGrattan & Edward C. Prescott, 2005.
"Taxes, regulations, and the value of U.S. and U.K. corporations,"
309, Federal Reserve Bank of Minneapolis.
- Ellen R. McGrattan & Edward C. Prescott, 2005. "Taxes, Regulations, and the Value of U.S. and U.K. Corporations," Review of Economic Studies, Oxford University Press, vol. 72(3), pages 767-796.
- Ellen R. McGrattan & Edward C. Prescott, 2004. "Taxes, Regulations, and the Value of U.S. and U.K. Corporations," Levine's Bibliography 122247000000000715, UCLA Department of Economics.
- Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2003. "Lessons for Canada from the U.S. Growth Resurgence," International Productivity Monitor, Centre for the Study of Living Standards, vol. 6, pages 3-18, Spring.
- Pedro Cavalcanti Ferreira & Ricardo A. de castro Pereira, 2008.
"Efeitos de Crescimento e Bem-estar da Lei de Parceria Público-Privada no Brasil,"
Revista Brasileira de Economia,
FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil), vol. 62(2), pages 207-219, October.
- Pereira, Ricardo Antônio de Castro & Ferreira, Pedro Cavalcanti Gomes, 2007. "Efeitos de Crescimento e Bem-estar da Lei de Parceria Público-Privada no Brasil," Economics Working Papers (Ensaios Economicos da EPGE) 648, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
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