Productivity and the Post-1990 U.S. Economy
In this paper, we show that ignoring corporate intangible investments gives a distorted picture of the post-1990 U.S. economy. In particular, ignoring intangible investments in the late 1990s leads one to conclude that productivity growth was modest, corporate profits were low, and corporate investment was at moderate levels. In fact, the late 1990s was a boom period for productivity growth, corporate profits, and corporate investment.
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|Date of creation:||2005|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
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- Dale W Jorgenson & Mun S Ho & Kevin J Stiroh, 2003. "Lessons for Europe from the U.S. Growth Resurgence," CESifo Economic Studies, CESifo, vol. 49(1), pages 27-47.
- Ellen R. McGrattan & Edward C. Prescott, 2005.
"Taxes, Regulations, and the Value of U.S. and U.K. Corporations,"
Review of Economic Studies,
Oxford University Press, vol. 72(3), pages 767-796.
- Ellen R. McGrattan & Edward C. Prescott, 2005. "Taxes, regulations, and the value of U.S. and U.K. corporations," Staff Report 309, Federal Reserve Bank of Minneapolis.
- Ellen R. McGrattan & Edward C. Prescott, 2004. "Taxes, Regulations, and the Value of U.S. and U.K. Corporations," Levine's Bibliography 122247000000000715, UCLA Department of Economics.
- Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2003. "Lessons for Canada from the U.S. Growth Resurgence," International Productivity Monitor, Centre for the Study of Living Standards, vol. 6, pages 3-18, Spring.
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