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Journal Article
The untouchables
Clement, Douglas (2005-12)
By quantifying the unmeasured, Fed economists shed light on the stock market, productivity and the development of economic theory
The Region , Volume 19 , Issue Dec , Pages 30-33, 52-57

Working Paper
Transitional dynamics of output and factor income shares: lessons from East Germany
Cociuba, Simona E. (2010)
I evaluate the quantitative implications of technology change and government policies for output and factor income shares during East Germany's transition since 1990. I model an economy that gains access to a high productivity technology embodied in new plants. As existing low productivity plants decrease production, the capital income share varies due to variation in the profit share of these plants. Two policies - transfers and government-mandated wage increases - have opposite effects on output growth, but both contribute to reducing the capital share during the transition. The model's ...
Globalization Institute Working Papers , Paper 43

Working Paper
Quantifying embodied technological change
Wilson, Daniel J.; Sakellaris, Plutarchos (2001)
We estimate the rate of embodied technological change directly from plant-level manufacturing data on current output and input choices along with histories on their vintages of equipment investment. Our estimates range between 8 and 17 percent for the typical U.S. manufacturing plant during the years 1972-1996. Any number in this range is substantially larger than is conventionally accepted with some important implications. First, the role of investment-specific technological change as an engine of growth is even larger than previously estimated. Second, existing producer durable price ...
Working Paper Series , Paper 2001-16

Journal Article
Unbalanced growth and the U.S. productivity slowdown
Bauer, Paul W. (1992-01)
An explanation of the slower trend rate of U.S. productivity growth in the past two decades as a natural response to unbalanced growth, whereby resources are shifted from sectors with high productivity growth rates to those with lower rates, such as the rapidly expanding service sector.
Economic Commentary , Issue Jan

Journal Article
Should states fear the effects of a changing dollar?
Carlino, Gerald A. (1990-09)
Business Review , Issue Sep , Pages 3-12

Conference Paper
The rise of offshoring : it's not wine for cloth anymore : general discussion
Hubbard, R. Glenn (2006)
Proceedings - Economic Policy Symposium - Jackson Hole

Journal Article
Are we working too hard or should we be working harder? A simple model of career concerns
Foerster, Andrew T.; Martinez, Leonardo (2006-01)
Economic Quarterly , Volume 92 , Issue Win , Pages 79-91

Working Paper
Growth accounting with misallocation: Or, doing less with more in Singapore
Neiman, Brent; Fernald, John G. (2010)
We derive aggregate growth-accounting implications for a two-sector economy with heterogeneous capital subsidies and monopoly power. In this economy, measures of total factor productivity (TFP) growth in terms of quantities (the primal) and real factor prices (the dual) can diverge from each other as well as from true technology growth. These distortions potentially give rise to dynamic reallocation effects that imply that change in technology needs to be measured from the bottom up rather than the top down. We show an example, for Singapore, of how incomplete data can be used to obtain ...
Working Paper Series , Paper 2010-18

Journal Article
Colleges need to learn about productivity
Poole, William (2006-01)
The Regional Economist , Issue Jan , Pages 3

Working Paper
What do we know and not know about potential output?
Basu, Susanto; Fernald, John G. (2009)
Potential output is an important concept in economics. Policymakers often use a one-sector neoclassical model to think about long-run growth, and often assume that potential output is a smooth series in the short run--approximated by a medium- or long-run estimate. But in both the short and long run, the one-sector model falls short empirically, reflecting the importance of rapid technical change in producing investment goods; and few, if any, modern macroeconomic models would imply that, at business cycle frequencies, potential output is a smooth series. Discussing these points allows us to ...
Working Paper Series , Paper 2009-05

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