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2023-02-01

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cc-by-nc-nd (c) Elsevier B.V., 2023
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/199363

The aggregate productivity slowdown: A system approach

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https://doi.org/10.1016/j.econlet.2022.110972

Abstract

I revisit the productivity slowdown debate by estimating the capital-labor elasticity and the bias of technical change for the U.S. economy under four different models of technical change. One with constant growth rates, one with a structural break in the constant growth rates, one in which growth is linear, and one with flexible time-varying growth rates. I find evidence in support of non-constant growth rates of factor-augmenting technical change. Labor-augmenting technical change growth rates are decelerating, while capital-augmenting technical change is non negligible but vanishes quickly.

Subject

Productivitat, Capital, Treball, Creixement econòmic

Subject (English)

Productivity, Capital, Labor, Economic growth

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Articles publicats en revistes (Economia)

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SERRANO QUINTERO, Rafael. The aggregate productivity slowdown: A system approach. Economics Letters. 2023. Vol. 223, num. 110972, pags. 1-4. ISSN 0165-1765. [consulted: 16 of August of 2026]. Available at: https://hdl.handle.net/2445/199363

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