Productivity Growth and the Phillips Curve
Productivity Growth and the Phillips Curve

Author: Laurence M. Ball

Publisher:

Published: 2001

Total Pages: 50

ISBN-13:

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We present a model in which workers' aspirations for wage increases adjust slowly to shifts in productivity growth. The model yields a Phillips curve with a new variable: the gap between productivity growth and an average of past wage growth. Empirically, this variable shows up strongly in the U.S. Phillips curve. Including it explains the otherwise puzzling shift in the unemployment-inflation tradeoff since 1995

Focus on Economic Growth and Productivity
Focus on Economic Growth and Productivity

Author: L. A. Finley

Publisher: Nova Publishers

Published: 2005

Total Pages: 206

ISBN-13: 9781594542725

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By 'economic growth' economists mean, in the first place, annual increases in the nation's total output of goods and services -- its national product. Maintaining rapid economic growth depends increasingly on productivity gains, particularly in the service sector. Economic growth and the productivity are impacted by individual enterprises, industrial sectors and the wider economy. The standard of living of a country is profoundly effected by economic growth and productivity. One of the key questions within the debate on economic growth and productivity is the effect of information technology on the system. This new book presents leading edge research on this exciting topic.

Growth, Productivity, Unemployment
Growth, Productivity, Unemployment

Author: Robert M. Solow

Publisher: MIT Press

Published: 1990

Total Pages: 262

ISBN-13: 9780262041102

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The essays in this book extend and elaborate on many of the important ideas Solow has either originated or developed in the past three decades.

Where Did the Productivity Growth Go?
Where Did the Productivity Growth Go?

Author: Ian Dew-Becker

Publisher:

Published: 2006

Total Pages: 104

ISBN-13:

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In addition to its micro analysis, this paper also asks whether faster productivity growth reduces inflation, raises nominal wage growth, or raises profits. We find that an acceleration or deceleration of the productivity growth trend alters the inflation rate by at least one-for-one in the opposite direction. This paper revives research on wage adjustment and produces a dynamic interactive model of price and wage adjustment that explains movements of labor's share of income.