Stories About Productivity
In this paper, it is argued that, given its relatively short duration and high year-to-year variability, the MFP data set does not contain enough information to allow clear statistical discrimination between competing hypotheses. As a result of this lack of information, combined with the human predilection for observing patterns, a range of alternative stories, each of which may be supported by an appropriate interpretation of the data, has been produced. Three such stories are described here. The first is the New Economy story put forward by Parham and others. The second story agrees with the first regarding the 1990s, but interprets the subsequent decline in productivity growth as the result of a failure to pursue microeconomic reform with sufficient vigour. The third story rejects the idea of a productivity miracle in the 1990s and argues instead that productivity growth rates experienced a sharp decline at the end of the postwar Golden Age around 1970, and that this decline has been sustained, although with fluctuations around the trend.
(This abstract was borrowed from another version of this item.)
Volume (Year): 32 (2006)
Issue (Month): 1 ()
|Note:||Quiggin, J., 2006. Stories About Productivity. Australian Bulletin of Labour, Vol. 32 No. 1, pp. 18-26.|
|Contact details of provider:|| Postal: GPO Box 2100, Adelaide SA 5001|
Phone: +61 8 8201 2265
Fax: +61 8 8276 9060
Web page: http://www.flinders.edu.au/sabs/nils/
More information through EDIRC
References listed on IDEAS
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.:
- Hancock, K, 2005. "Productivity Growth In Australia 1964-65 To 2003-04," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 31(1), pages 28-32.
- Parham, D, 2005. "Australiaʼs 1990s Productivity Surge: A Response to Keith Hancockʼs Challenge," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 31(3), pages 295-303.
- McCloskey, Donald N, 1983. "The Rhetoric of Economics," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 481-517, June.
- Margaret McKenzie, 2010. "Microeconomic reform and productivity in Australia – boom or blip," Economics Series 2010_15, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
When requesting a correction, please mention this item's handle: RePEc:fli:journl:26161. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rupali Saikia)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.