ABSTRACT: We develop new aggregate and sectoral Total Factor Productivity (TFP) estimates for the United States between 1899 and 1941 through better coverage of sectors and better-measured labor quality, and find TFP-growth was lower than previously thought, Continue reading “Working Paper: The Sources of Growth in a Technologically Progressive Economy”
The Great Depression is considered one of the darkest times for the US economy, but some argue that the US economy experienced strong productivity growth over the period. This column reassesses this performance using improved Continue reading “Column: Onwards and Upwards”
ABSTRACT: We develop new aggregate and sectoral Total Factor Productivity (TFP) estimates for the United States between 1899 and 1941 through better coverage of sectors and better measured labor quality, and show TFP-growth was lower than previously thought, broadly based across sectors Continue reading “Working Paper: A Vision of the Growth Process in a Technologically Progressive Economy”
Pieter (Jop) WOLTJER 