Manufacturing productivity in the US has stagnated due to the end of a computer electronics TFP boom impacted by Moore's law and an offshoring wave. Strong employment growth with weak economic activity led to declining labor productivity. Low European productivity growth may be influenced by US stimulus spending. US productivity growth has been sluggish for the past 20 years, prompting discussions on potential improvements.
For the past 20 years, the growth in US productivity has been sluggish. On a recent episode of the @chicagoboothrev Podcast, Boothโs @ChadSyverson answers the question: whatโs happening to productivity, and is it finally about to turn the corner? https://t.co/0aKkImFq9P
Low for long? Reasons for the recent decline in productivity https://t.co/Fowfit8k0f
A good post on the puzzle of low European productivity growth. Part of it might be U.S. stimulus spending that creates tight labor markets and high wages, prompting U.S. companies to do more automation. https://t.co/p6w8POqMVS
Strong employment growth amid weak economic activity has recently led to declining labour productivity. #TheECBBlog discusses causes and prospects for a cyclical recovery in productivity growth. https://t.co/Tj7YYd1MtU https://t.co/Ln7Ki3gmXb
Manufacturing productivity has stagnated in the US, and it can be explained almost fully by the end of two waves: a computer electronics TFP boom that waned due to the dwindling impact of Moore's law, and an offshoring wave that reduced hours worked with no equivalent decline inโฆ https://t.co/OXHcXyOOpS https://t.co/GlaTR5buPY