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Discussion Paper Details

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Title: Measurement Issues, the Productivity Slowdown and the Explosion of Computer Power

Author(s): Martin Baily and Robert J Gordon

Publication Date: April 1989

Keyword(s): Computers, Growth, Measurement Error, Productivity and Technological Change

Programme Area(s): Applied Macroeconomics

Abstract: One of the starkest differences between the recent economic performance of the US and of Europe, in addition to faster job creation in the US, is its slower productivity growth. This paper begins with data showing that US productivity growth has been essentially zero since 1973 outside of manufacturing. In contrast, productivity growth in US manufacturing has revived since 1979, and over the period 1979-87 has actually been more rapid than during the 1948-73 'golden age'.

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Bibliographic Reference

Baily, M and Gordon, R. 1989. 'Measurement Issues, the Productivity Slowdown and the Explosion of Computer Power'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=305