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Lessons from a Career in Productivity Research: Some Answers, A Glimpse of the Future, and Much Left to Learn

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  • Martin Neil Baily

Abstract

This study presents lessons learned from a career in productivity research. It examines the extent to which the key empirical questions about productivity have been answered. Aggregate and industry growth data are reviewed and show how a few industries contribute a lot to overall growth; notable is the large contribution of high-tech manufacturing to U.S. TFP growth (also the case for Japan). There is an extended summary of the lessons learned from cross-country comparisons of the levels of productivity in different industries using business economics information. Strong competitive intensity is positive for productivity, while regulations and trade restrictions are negative. The article concludes with an optimistic note on the productivity impact of generative AI.

Suggested Citation

  • Martin Neil Baily, 2023. "Lessons from a Career in Productivity Research: Some Answers, A Glimpse of the Future, and Much Left to Learn," International Productivity Monitor, Centre for the Study of Living Standards, vol. 44, pages 120-149, Fall.
    • Handle: RePEc:sls:ipmsls:v:44:y:2023:5
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