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Abstract

W edevelopnew aggregateandsectoralT otalFactorP roductivity (T FP )estim atesfortheU nitedS tates betw een1899 and1941 throughbettercoverageofsectorsandbetterm easuredlaborquality,and show T FP -grow thw aslow erthanpreviously thought,broadly basedacrosssectors,strongly variant intertem porally,andconsistentw ithm any diversesourcesofinnovation.W ethentestandrejectthree prom inentclaim s.First,the1930sdidnothavethehighestT FP -grow thofthetw entiethcentury. S econd,T FP -grow thw asnotpredom inantly causedby fourleadingsectors.T hird,T FP -grow thw asnot causedby a‘yeastprocess’ originatinginadom inanttechnology suchaselectricity.

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