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Study of trends in industrial concentration and their implications for prices and productivity in the USA manufacturing industry, 1947 to 1972 - shows that higher productivity growth and smaller price increases occurred where concentration increased most; claims that industrial policy should not hinder formation of quasimonopolys. Graphs, references and tables.
Labor productivity growth in the United States and other advanced countries has slowed dramatically since the mid-2000s, a major factor in their economic stagnation and political turmoil. Economists have been debating the causes of the slowdown and possible remedies for some years. Unaddressed in this discussion is what happens if the slowdown is not reversed. In this volume, a dozen renowned scholars analyze the impact of sustained lower productivity growth on public finances, social protection, trade, capital flows, wages, inequality, and, ultimately, politics in the advanced industrial world. They conclude that slow productivity growth could lead to unpredictable and possibly dangerous new problems, aggravating inequality and increasing concentration of market power. Facing Up to Low Productivity Growth also proposes ways that countries can cope with these consequences.
The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.
Despite the size, complexity and importance of the construction industry, there has been little study to date which focuses on the challenge of drawing reliable conclusions from the available data. The accuracy of industry reports has an impact on government policy, the direction and outcomes of research and the practices of construction firms, so confusion in this area can have far reaching consequences. In response to this, Measuring Construction looks at fundamental economic theories and concepts with respect to the construction industry, and explains their merits and shortcomings, sometimes by looking at real life examples. Drawing on current research the contributors tackle: industry performance productivity measurement construction in national accounts comparing international construction costs and prices comparing international productivity The scope of the book is international, using data and publications from four continents, and tackling head on the difficulties arising from measuring construction. By addressing problems that arise everywhere from individual project documentation, right up to national industrial accounts, this much-needed book can have an impact at every level of the industry. It is essential reading for postgraduate construction students and researchers, students of industrial economics, construction economists and policy-makers.