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The U.S. productivity slowdown: what the experts say

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  • William E. Cullison

Abstract

Measured U.S. productivity growth has slowed significantly since 1973; moreover, measured U.S. productivity continues to grow at a slower rate than that of our major trading partners. A number of potential explanations of the slowdown are currently being debated in the economics literature. These explanations are discussed in the article.

Suggested Citation

  • William E. Cullison, 1989. "The U.S. productivity slowdown: what the experts say," Economic Review, Federal Reserve Bank of Richmond, vol. 75(Jul), pages 10-21.
    • Handle: RePEc:fip:fedrer:y:1989:i:jul:p:10-21:n:v.75no.4
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    References listed on IDEAS

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    1. Jorgenson, Dale W, 1988. "Productivity and Postwar U.S. Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 23-41, Fall.
    2. Martin Neil Baily, 1981. "Productivity and the Services of Capital and Labor," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 12(1), pages 1-66.
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    4. Griliches, Zvi, 1988. "Productivity Puzzles and R&D: Another Nonexplanation," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 9-21, Fall.
    5. Martin Neil Baily & Alok K. Chakrabarti, 1985. "Innovation and Productivity in U.S. Industry," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 16(2), pages 609-639.
    6. Nordhaus, William D., 1982. "Economic policy in the face of declining productivity growth," European Economic Review, Elsevier, vol. 18(2), pages 131-157.
    7. Olson, Mancur, 1988. "The Productivity Slowdown, the Oil Shocks, and the Real Cycle," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 43-69, Fall.
    8. Barbera, Anthony J & McConnell, Virginia D, 1986. "Effects of Pollution Control on Industry Productivity: A Factor Demand Approach," Journal of Industrial Economics, Wiley Blackwell, vol. 35(2), pages 161-172, December.
    9. Gollop, Frank M & Roberts, Mark J, 1983. "Environmental Regulations and Productivity Growth: The Case of Fossil-Fueled Electric Power Generation," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 654-674, August.
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    Cited by:

    1. Vandenbroucke, Guillaume, 2021. "The baby boomers and the productivity slowdown," European Economic Review, Elsevier, vol. 132(C).
    2. Ohanian, Lee E., 2014. "The impact of monetary policy in the midst of big shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 49(C), pages 35-48.

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