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首页> 外文期刊>Working Paper Series >PRODUCTIVITY AND U.S. MACROECONOMIC PERFORMANCE: INTERPRETING THE PAST AND PREDICTING THE FUTURE WITH A TWO-SECTOR REAL BUSINESS CYCLE MODEL
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PRODUCTIVITY AND U.S. MACROECONOMIC PERFORMANCE: INTERPRETING THE PAST AND PREDICTING THE FUTURE WITH A TWO-SECTOR REAL BUSINESS CYCLE MODEL

机译:生产率和美国宏观经济绩效:用两部门真实业务周期模型解释过去并预测未来

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摘要

A two-sector real business cycle model, estimated with postwar U.S. data, identifies shocks to the levels and growth rates of total factor productivity in distinct consumption- and investment-goods-producing technologies. This model attributes most of the productivity slowdown of the 1970s to the consumption-goods sector; it suggests that a slowdown in the investment-goods sector occurred later and was much less persistent. Against this broader backdrop, the model interprets the more recent episode of robust investment and investment-specific technological change during the 1990s largely as a catch-up in levels that is unlikely to persist or be repeated anytime soon.
机译:根据战后美国的数据估算出的一个由两个部门组成的真实商业周期模型,可以确定不同的消费和投资货物生产技术对全要素生产率水平和增长率的冲击。该模型将1970年代的大多数生产率下降归因于消费品部门。这表明投资品行业的放缓是较晚发生的,而且没有那么持久。在这种更广阔的背景下,该模型将1990年代强劲的投资和特定于投资的技术变革的最新情况解释为,这种赶超的水平不太可能持续下去或很快就会重演。

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  • 来源
    《Working Paper Series》 |2007年第13532期|A1-A21-39|共页
  • 作者

    Peter N. Ireland; Scott Schuh;

  • 作者单位

    Boston College, Department of Economics Administration Building 140 Commonwealth Ave. Chestnut Hill, MA 02467-3806;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济;
  • 关键词

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