RBA paper finds it is hard to pinpoint US productivity slowdowns
Break in productivity growth trend in US appears to have happened in early 1970s
US trend productivity growth appears to have undergone a single break point in the 1970s, but the slow response of households and firms made it difficult to spot, according to a research discussion paper published by the Reserve Bank of Australia (RBA).
The slowdown in US productivity growth: breaks and beliefs, by Rachael McCririck and Daniel Rees, design a model where beliefs on productivity can differ from reality. Although they identify a slowdown in US trend productivity growth by roughly a
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