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The productivity slowdown and its policy implications

  • Palle S. Andersen
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    This paper analyses the recent productivity slowdown, attempting to distinguish permanent from cyclical changes. It then considers the implications for anti-inflationary policies, discussing the short-run effects of more restrictive policies as well as the prospects for reducing inflation in the medium term.

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    File URL: http://www.bis.org/publ/work8.pdf
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    Paper provided by Bank for International Settlements in its series BIS Working Papers with number 8.

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    Length: 44 pages
    Date of creation: Mar 1983
    Date of revision:
    Handle: RePEc:bis:biswps:8
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    1. Barry P. Bosworth & Robert M. Solow & Lawrence H. Summers, 1982. "Capital Formation and Economic Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 13(2), pages 273-326.
    2. Martin Neil Baily, 1982. "The Productivity Growth Slowdown by Industry," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 13(2), pages 423-459.
    3. Robert H. Rasche & John A. Tatom, 1977. "Energy resources and potential GNP," Review, Federal Reserve Bank of St. Louis, issue Jun, pages 10-24.
    4. John A. Tatom, 1979. "Energy prices and capital formation: 1972-1977," Review, Federal Reserve Bank of St. Louis, issue May, pages 2-11.
    5. Michael R. Darby, 1982. "The U.S. Productivity Slowdown: A Case of Statistical Myopia," NBER Working Papers 1018, National Bureau of Economic Research, Inc.
    6. Giersch, Herbert & Wolter, Frank, 1983. "Towards an Explanation of the Productivity Slowdown: An Acceleration-Deceleration Hypothesis," Economic Journal, Royal Economic Society, vol. 93(369), pages 35-55, March.
    7. Robert H. Rasche & John A. Tatom, 1977. "The effects of the new energy regime on economic capacity, production, and prices," Review, Federal Reserve Bank of St. Louis, issue May, pages 2-12.
    8. Clark, Peter K, 1978. "Capital Formation and the Recent Productivity Slowdown," Journal of Finance, American Finance Association, vol. 33(3), pages 965-75, June.
    9. Peter K. Clark, 1979. "Issues in the Analysis of Capital Formation and Productivity Growth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 10(2), pages 423-446.
    10. John A. Tatom, 1981. "Energy prices and short-run economic performance," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 3-17.
    11. Arthur M. Okun, 1973. "Upward Mobility in a High-Pressure Economy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(1), pages 207-262.
    12. John A. Tatom, 1979. "The productivity problem," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 3-16.
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