Zvi Griliches was a modern master of empirical economics. In this short book, he recounts what he and others have learned about the sources of economic growth. This book conveys the way h… Mehr…
Zvi Griliches was a modern master of empirical economics. In this short book, he recounts what he and others have learned about the sources of economic growth. This book conveys the way he tackled research problems. For Griliches, economic theorizing without measurement is merely the fashioning of parables, but measurement without theory is blind. Judgment enables one to strike the right balance. The book begins with economists' first attempts to measure productivity growth systematically in the 1930s. In the mid-1950s these efforts culminated in a startling puzzle. The growth of measured inputs like labor and capital explained only a fraction of the growth of national output. Economists called this phenomenon "efficiency" or "technical change" or "the residual." However, Griliches observes that the most accurate name was a "measure of our ignorance." What explained the rest of economic growth quickly became one of the most important questions in economics. Over the next thirty years, Griliches and his colleagues and students looked for various components of the residual in education (the formation of human capital), investment (the formation of physical capital), and research and development. In 1973, after the oil price shocks, productivity growth slowed and the residual almost disappeared. Since the shocks were a short-term phenomenon, they could not account for the slowdown. A main focus of this book is therefore the puzzle of the productivity slowdown and how to date it and how to explain it. Media > Book, [PU: Harvard University Press]<
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Zvi Griliches was a modern master of empirical economics. In this short book, he recounts what he and others have learned about the sources of economic growth. This book conveys the way h… Mehr…
Zvi Griliches was a modern master of empirical economics. In this short book, he recounts what he and others have learned about the sources of economic growth. This book conveys the way he tackled research problems. For Griliches, economic theorizing without measurement is merely the fashioning of parables, but measurement without theory is blind. Judgment enables one to strike the right balance. The book begins with economists' first attempts to measure productivity growth systematically in the 1930s. In the mid-1950s these efforts culminated in a startling puzzle. The growth of measured inputs like labor and capital explained only a fraction of the growth of national output. Economists called this phenomenon "efficiency" or "technical change" or "the residual." However, Griliches observes that the most accurate name was a "measure of our ignorance." What explained the rest of economic growth quickly became one of the most important questions in economics. Over the next thirty years, Griliches and his colleagues and students looked for various components of the residual in education (the formation of human capital), investment (the formation of physical capital), and research and development. In 1973, after the oil price shocks, productivity growth slowed and the residual almost disappeared. Since the shocks were a short-term phenomenon, they could not account for the slowdown. A main focus of this book is therefore the puzzle of the productivity slowdown and how to date it and how to explain it. Media > Book, [PU: Harvard University Press]<
hardcover, Access codes and supplements are not guaranteed with used items. May be an ex-library book., Gebraucht, guter Zustand, [PU: Harvard University Press]
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Zvi Griliches was a modern master of empirical economics. In this short book, he recounts what he and others have learned about the sources of economic growth. This book conveys the way he tackled research problems. For Griliches, economic theorizing without measurement is merely the fashioning of parables, but measurement without theory is blind. Judgment enables one to strike the right balance.
Detailangaben zum Buch - R & D, Education, and Productivity: A Retrospective
EAN (ISBN-13): 9780674003439 ISBN (ISBN-10): 0674003438 Gebundene Ausgabe Erscheinungsjahr: 2001 Herausgeber: Harvard University Press 144 Seiten Gewicht: 0,327 kg Sprache: eng/Englisch
Buch in der Datenbank seit 2009-03-02T18:31:15+01:00 (Vienna) Detailseite zuletzt geändert am 2024-03-11T16:01:48+01:00 (Vienna) ISBN/EAN: 0674003438
ISBN - alternative Schreibweisen: 0-674-00343-8, 978-0-674-00343-9 Alternative Schreibweisen und verwandte Suchbegriffe: Autor des Buches: griliches Titel des Buches: retrospective, harvard education, education productivity