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The Upcoming Slowdown in U.S. Economic Growth

  • Charles I. Jones

At least since 1950, the United States has been stimulated by increases in educational attainment, increases in research intensity, and the increased openness and development of the world economy. Such changes suggest, contrary to the conventional view, that the U.S. economy is far from its steady state balanced growth path. The theoretical framework analyzed here provides a coherent interpretation of this evidence and indicates that when these increases cease and the U.S. economy reaches its steady state, U.S. per capita growth can be expected to fall to a rate of approximately 1/4 its post-war average.

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Paper provided by Stanford University, Department of Economics in its series Working Papers with number 97015.

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Handle: RePEc:wop:stanec:97015
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  9. Paul Krugman, 1995. "Growing World Trade: Causes and Consequences," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 327-377.
  10. Stokey, Nancy L, 1995. "R&D and Economic Growth," Review of Economic Studies, Wiley Blackwell, vol. 62(3), pages 469-89, July.
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