RT Journal Article
T1 Accounting for U.S. economic growth 1954–2017
A1 Río Iglesias, Fernando del
A1 Lores Insua, Francisco Xavier
K1 Growth accounting
K1 Capital-efficiency wedge
K1 Labor-efficiency wedge
K1 Labor wedge
K1 Investment wedge
K1 Resource constraint wedge
K1 Productivity
K1 Labor share
K1 Hours worked
AB We perform a growth accounting exercise using the whole neoclassical growth model for the u.s. economy during 1954–2017. Our growth accounting exercise reveals that the u.s. extraordinary economic growth in the 1960s has been mainly driven by the increase of the labor efficiency, whereas the growth slowdowns in the 1970s and the first decade of 21st century were mainly driven by the decline in the capital efficiency. However, the reduction of the distortions on the labor supply driven the subsequent recoveries in the 1980s and after the Great Recession.
PB Elsevier
SN 0264-9993
YR 2021
FD 2021
LK https://hdl.handle.net/10347/40368
UL https://hdl.handle.net/10347/40368
LA eng
NO del Río, F., & Lores, F. X. (2021). Accounting for US economic growth 1954–2017. Economic Modelling, 101, 105529. https://doi.org/10.1016/J.ECONMOD.2021.105529
DS Minerva
RD 23 abr 2026