The slow growth mystery: Can we cure the cancer?

Foreign Affairs

Volumn 75, Issue 1, 1996, Pages 146-151

  Lawrence, Robert Z ^a  

^a NONE

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EID: 0040199668     PISSN: 00157120     EISSN: None     Source Type: Journal    
DOI: 10.2307/20047474     Document Type: Article

References (6)

1. "Trade and Jobs in U.S. Manufacturing," Brookings Papers on Economic Activity, vol. 1, 1994, p. 29.
2. Multifactor productivity growth is a more inclusive measure of productivity, which takes account of inputs besides labor. By this measure, manufacturing productivity increased 1.4 percent annually in the 1980s, close to the 1.7 percent average between 1955 and 1973.
3. According to Bureau of Labor Statistics estimates, between 1982 and 1990 multifactor productivity growth in the private business sector grew at an annual rate of 0.9 percent. Of this total, manufacturing contributed 1.2 percentage points, with the rest of the economy on balance dragging productivity growth down by 0.3 percentage points. Multifactor Productivity in U.S. Private Business, 1947-1990, Washington: U.S. Department of Labor, 1992.
4. According to the Federal Reserve Board, the multilateral real trade-weighted value of the dollar (1973=100) stood at 85.8 in the fourth quarter of 1994 compared with 83.2 in 1979 and 84.9 in 1980. Economic Report of the President, Washington: GPO, 1995, p. 402.
5. See Martin Neil Baily and Robert J. Gordon, "The Productivity Slowdown, Measurement Issues and the Explosion of Computer Power," Brookings Papers on Economic Activity, vol. 2, 1988, pp. 347-431.
6. See, for example, the 1995 Economic Report of the President, pp. 108-110.