Diewart and Nakamura said, “Productivity is like love. Volumes of literature have been poured in to talk about the benefits of having more of it, but disagreement reigns on how best to achieve this. One reason for this is a lack of consensus on what “it� really is.� Ever since Solow (1957) decomposed output growth into the contribution of input growth and a residual productivity term, the concept has increased in popularity. Productivity growth forms the basis for improvements in real incomes and welfare, and has generated lot of interest in its own right and is used as a benchmark to rank firms or countries. This has spurred great interest in trying to obtain better and more accurate productivity growth estimates.
A three day OECD workshop on productivity measurement is taking place in Madrid, Spain.
A three day OECD workshop on productivity measurement is taking place in Madrid, Spain.
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The Partisan War Syndrome
The Democrats' policy of doing nothing as the Republican Party keeps tripping over itself is a recipe for continued political failure and irrelevance.
A fine blog.
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