全球智库信息集成服务系统(G2TT): The Industry Anatomy of the Transatlantic Productivity Growth Slowdown

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w25703
来源ID	Working Paper 25703
	The Industry Anatomy of the Transatlantic Productivity Growth Slowdown
	Robert J. Gordon; Hassan Sayed
发表日期	2019-04-01
出版年	2019
语种	英语
摘要	By merging KLEMS data sets and aggregating over the ten largest Western European nations (EU-10), we are able to compare and contrast productivity growth up through 2015 starting from 1950 in the U.S. and from 1972 in the EU-10. Data are provided at the aggregate level, as well as for 16 industry groups within the total economy and 11 manufacturing sub-industries. The analysis focuses on outcomes over four time intervals: 1950-72, 1972-95, 1995-2005, and 2005-15. We interpret the EU-10 performance as catching up to the U.S. in stages, with its rapid growth of 1950-72 representing a delayed adoption of the inventions that propelled U.S. productivity growth in the first half of the 20th century, and the next EU-10 stage for 1972-95 as imitating the U.S. outcome for 1950-72. We show that both the pace of aggregate productivity growth during 1972-95 for the EU-10 as well as its industrial composition matched very closely the growth record of the U.S. in the previous 1950-72 time interval. A striking finding is that for the total economy the “early-to-late” productivity growth slowdown from 1972-95 to 2005-15 in the EU-10 (-1.68 percentage points) was almost identical to the U.S. slowdown from 1950-72 to 2005-15 (-1.67 percentage points). There is a very high EU-U.S. correlation in the magnitude of the early-to-late slowdown across industries. This supports our overall theme that the productivity growth slowdown from the early postwar years to the most recent decade was due to a retardation in technical change that affected the same industries by roughly the same magnitudes on both sides of the Atlantic.
主题	Macroeconomics ; Consumption and Investment ; Development and Growth ; Innovation and R& ; D ; Growth and Productivity ; Country Studies
URL	https://www.nber.org/papers/w25703
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/583377
推荐引用方式 GB/T 7714	Robert J. Gordon,Hassan Sayed. The Industry Anatomy of the Transatlantic Productivity Growth Slowdown. 2019.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w25703.pdf（1265KB）	智库出版物		限制开放	CC BY-NC-SA	浏览