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Total Factor Productivity Growth in Historical Perspective: Working Paper 2013-01

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  • Robert Shackelton

Abstract

This paper reviews the broad contours of total factor productivity (TFP) growth in the U.S. economy since 1870, highlighting the contribution of various technological innovations to the growth of different sectors of the economy. The paper also notes the correlation between TFP growth and improvements in general health and well-being as reflected in changes in life expectancy. Finally, the paper discusses the potential for continued growth in TFP in the future.

Suggested Citation

  • Robert Shackelton, 2013. "Total Factor Productivity Growth in Historical Perspective: Working Paper 2013-01," Working Papers 44002, Congressional Budget Office.
    • Handle: RePEc:cbo:wpaper:44002
    as

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    File URL: https://www.cbo.gov/sites/default/files/113th-congress-2013-2014/workingpaper/44002_TFP_Growth_03-18-2013_1.pdf
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    References listed on IDEAS

    as
    1. Gordon, Robert J., 2010. "Revisiting U. S. productivity Growth over the Past Century with a View of the Future," CEPR Discussion Papers 7991, C.E.P.R. Discussion Papers.
    2. Robert Gordon, 1995. "Problems in the Measurement and Performance of Service-Sector Productivity in the United States," RBA Annual Conference Volume (Discontinued), in: Palle Andersen & Jacqueline Dwyer & David Gruen (ed.),Productivity and Growth, Reserve Bank of Australia.
    3. Rosenberg,Nathan, 1994. "Exploring the Black Box," Cambridge Books, Cambridge University Press, number 9780521452700, January.
    4. De Long, J. Bradford, 1992. "Productivity Growth and Machinery Investment: A Long-Run Look, 1870–1980," The Journal of Economic History, Cambridge University Press, vol. 52(2), pages 307-324, June.
    5. Robert J. Gordon, 2012. "Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds," NBER Working Papers 18315, National Bureau of Economic Research, Inc.
    6. Gilbert Cette & Yusuf Kocoglu & Jacques Mairesse, 2009. "Productivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Century," NBER Working Papers 15577, National Bureau of Economic Research, Inc.
    7. Robert J. Gordon, 2010. "Revisiting U. S. Productivity Growth over the Past Century with a View of the Future," NBER Working Papers 15834, National Bureau of Economic Research, Inc.
    8. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
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    10. Robert J. Gordon, 1992. "Forward Into the Past: Productivity Retrogression in the Electric Generating Industry," NBER Working Papers 3988, National Bureau of Economic Research, Inc.
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