Found 29 article(s) for author 'Dale Jorgenson'

The Impact of Information Technology on Postwar US Economic Growth

The Impact of Information Technology on Postwar US Economic Growth. Dale Jorgenson, November 28, 2015, Paper. “We provide detailed information on the crucial role of information technology in the postwar growth of the U.S. economy, from the development of the telecommunications services and the telecommunications equipment industries through the successful commercialization of semiconductor technology and the ongoing shift to cloud-based IT services. Our industry-level data set reveals that productivity gains over the postwar period originated disproportionally in industries that produce IT, but the replication of established technologies through growth of capital and labor inputs explains by far the largest proportion of U.S. economic growth. We find that the substantial growth deceleration during the Great Recession was driven by modestly negative aggregate productivity growth, but that only a minor portion of the drop in the growth rate was due to the IT-producing industries.Link

Tags: , , , , , , ,

Education, Participation, and the Revival of US Economic Growth

Education, Participation, and the Revival of US Economic Growth. Dale Jorgenson, October 1, 2015, Paper. “Labor quality growth represents the upgrading of the labor force through higher educational attainment and greater experience. While much attention has been devoted to the aging of the labor force and the ongoing retirement of the baby boomers, the looming plateau in average educational attainment of U.S. workers has been overlooked. The educational attainment of people emerging from the educational system, while high, has been nearly constant for the past several decades. Rising average educational attainment is about to become part of U.S. economic history. We define the participation rate for each age-sex group as the number of employed as a proportion of the population of that age group. This rate could also be called the employment participation rate.” Link

Tags: , , , ,

A Half Century of Trans-Pacific Competition: Price level indices and productivity gaps for Japanese and U.S. industries, 1955-2012

A Half Century of Trans-Pacific Competition: Price level indices and productivity gaps for Japanese and U.S. industries, 1955-2012. Dale W. Jorgenson, May 2015, Paper. “Trans-Pacific competition between Japanese and U.S. industries has provided powerful incentives for mutually beneficial economic cooperation between Japan and the United States. The benefits would be greatly enhanced by the proposed Trans-Pacific Partnership, an international agreement that would involve Japan, the United States, and 10 additional countries of the Asia-Pacific region. In this paper, we analyze competition between Japanese and U.S. industries in detail…” Link

Tags: , ,

Measuring Individual Economic Well-Being and Social Welfare within the Framework of the System of National Accounts

Measuring Individual Economic Well-Being and Social Welfare within the Framework of the System of National Accounts. Dale W. Jorgenson, March 27, 2015, Paper. “While the agenda of ‘beyond GDP’ encompasses measurements that lie outside boundaries of the System of National Accounts, key aspects of individual well-being and social welfare can be incorporated into an SNA framework. Jorgenson and Slesnick (1983, 2014) developed the theory and methodology for full implementation of these features. However, for regular statistical production, this may not always be feasible. We identify the simplifying assumptions required to put a less ambitious but empirically more tractable measurement of individual and social welfare in place…” Link

Tags: , ,

U.S. Economic Growth – Retrospect and Prospect: Lessons from a Prototype Industry-Level Production Account for the United States, 1947-2012

U.S. Economic Growth – Retrospect and Prospect: Lessons from a Prototype Industry-Level Production Account for the United States, 1947-2012. Dale Jorgenson, March 25, 2015, Paper. “In order to analyze the long-term growth of the U.S. economy we have constructed a new data set on the growth of U.S. output and productivity by industry for 1947-2012. This includes the output for each of the 65 industries represented in the U.S. national accounts, as well as the inputs of capital (K), labor (L), energy (E), materials (M), and services (S). The key indicator of innovation is productivity growth for each industry, where productivity is…”  Link

Tags: ,

Economics 1490 – Growth and Crisis in the World Economy

Economics 1490 – Growth and Crisis in the World Economy. Dale Jorgenson, 2015, Course Materials. “This course assesses the future of the tri-polar world economy – Asia, Europe, and North America. The course analyzes the resurgence of the US economic growth, the emergence of asset pricing bubbles, and the ensuing financial and economic crisis. We will discuss the sources of Asian growth miracles and the convergence and subsequent divergence of Europe and North America. What growth rate is sustainable and who will lead? What are the forces that threaten long-term prosperity?” Link

Tags: ,

What will revive U.S. economic growth? Lessons from a prototype industry-level production account for the United States

What will revive U.S. economic growth? Lessons from a prototype industry-level production account for the United States. Dale W. Jorgenson, April 2014, Paper. “The objective of this paper is to provide a new historical perspective on postwar US economic growth and consider the prospects for reviving growth in the future. For this purpose we have constructed a data set on the growth of output and productivity by industry for the period 1947–2010…” May require purchase or user account. Link

Tags: , , , , , ,

WHAT WILL END THE LONG SLUMP? Lessons from an Industry-Level Production Account for the United States, 1947-2010

WHAT WILL END THE LONG SLUMP? Lessons from an Industry-Level Production Account for the United States, 1947-2010. Dale Jorgenson, January 4, 2014, Opinion. “Presented at the annual conference of the American Economic Association to the session on Rapid Growth or Stagnation of the U.S. Economy. Sponsored by the American Economic Association and the Society for Policy Modeling…” Link Verified October 13, 2014

Tags: , , ,

The emergence of the new economic order: Growth in the G7 and the G20

The emergence of the new economic order: Growth in the G7 and the G20. Dale Jorgenson, May 2013, Paper. “The massive reconfiguration of the world economy over the next decade will lead to a New Economic Order by 2020. China will displace the U.S. as the world’s leading economy and India will overtake Japan. This will shift the balance of the G20 from the leading industrialized economies of the G7 to the emerging economies, especially China and India. The rise of the Asian model of economic growth will underscore the importance of globalization and…” May require purchase or user account. Link

Tags: , , , , , , ,

Double Dividend – Environmental Taxes and Fiscal Reform in the United States

Double Dividend – Environmental Taxes and Fiscal Reform in the United States. Dale Jorgenson, 2013, Book. “Energy utilization, especially from fossil fuels, creates hidden costs in the form of pollution and environmental damages. The costs are well documented but are hidden in the sense that they occur outside the market, are not reflected in market prices, and are not taken into account by energy users. Double Dividend presents a novel method for designing environmental taxes that correct market prices so that they reflect the true cost of energy…” May require purchase or user account. Link Verified October 12, 2014

Tags: , , ,