tag:blogger.com,1999:blog-7439628176985419293.post4249999677619753197..comments2023-11-02T08:28:40.590-04:00Comments on Twenty-Cent Paradigms: TFP: Three Episodes or Four?Bill Chttp://www.blogger.com/profile/01081319025032071808noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7439628176985419293.post-73165660232108192232014-03-13T19:28:20.598-04:002014-03-13T19:28:20.598-04:00Thanks. It looks like they were referring to &quo...Thanks. It looks like they were referring to "labor productivity" - output per unit of labor. But it, too, is mainly driven by technology so it shows similar trends (one of the interesting things in the CEA report was showing that on average labor productivity is basically total factor productivity + one percentage point).<br /><br />In any case, I sure hope the White House's more optimistic interpretation is correct. Interesting to speculate about, but its truly one of the things we don't know.Bill Chttps://www.blogger.com/profile/01081319025032071808noreply@blogger.comtag:blogger.com,1999:blog-7439628176985419293.post-16154473871393831672014-03-12T20:01:10.149-04:002014-03-12T20:01:10.149-04:00Interesting post.
Dean Baker and John Schmitt, in...Interesting post.<br /><br />Dean Baker and John Schmitt, in <a href="http://www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/the-real-economic-crisis/" rel="nofollow">The Real Economic Crisis</a> (2007), discuss productivity trends without specifying their measure of productivity. But they do see a four-stage pattern in those trends, similar to yours.<br />The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.com