Latest / The Productivity Podcast with Fexingo: Output, Efficiency, and Long-Term Economic Growth
Why Productivity Growth Has Slowed Since 2005
Lucas and Luna examine the puzzle of slowing productivity growth in developed economies since 2005, despite rapid technological change. They focus on the 'measurable vs. unmeasurable' problem highlighted by economist Chad Syverson, exploring how much productivity slowdown is real and how much is a measurement issue. Specific examples include the shift from goods to services, the difficulty of capturing quality improvements in healthcare and software, and the implications for long-run living standards.
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