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This volume contains papers presented at a conference in May 1988 in Washington, D.C., commemorating the fiftieth anniversary of the founding of the Conference on Research in Income and Wealth (CRIW). The call for papers emphasized assessments of broad topics in economic measurement, both conceptual and pragmatic. The organizers desired (and succeeded in obtaining) a mix of papers that, first, illustrate the range of measurement issues that economics as a science must confront and, second, mark major milestones of CRIW accomplishment. The papers concern prices and output (Griliches, Pieper, Triplett) and also the major productive inputs, capital (Hulten) and labor (Hamermesh). Measures of saving, the source of capital accumulation, are covered in one paper (Boskin); measuring productivity, the source of much of the growth in per capita income, is reviewed in another (Jorgenson). The use of economic data in economic policy analysis and in regulation are illustrated in a review of measures of tax burden (Atrostic and Nunns) and in an analysis of the data needed for environmental regulation (Russell and Smith); the adequacy of data for policy analysis is evaluated in a roundtable discussion (chapter 12) involving four distinguished policy analysts with extensive government experience in Washington and Ottawa.
This volume summarizes the economic theory, the econometric methodology and the empirical findings resulting from the new approach to econometric modelling of producer behaviour.
Technological change is not only a determinant of growth but is also a pivotal factor in international competition and the modernization of an economy. In one of the most in-depth and detailed studies of its kind, George Korres analyzes the macroeconomic and the microeconomic factors influencing the economics of innovation and the economic relations between technology, innovation, knowledge and productivity. In particular, this book examines both the theoretical framework and the applications for empirical results. This second edition contributes updated figures and estimations for technical change from EU member states and features new subjects, including growth models, productivity models, production function models and non-parametric models. In one of the most in-depth and detailed studies of its kind, this book captures all the existing contemporary techniques in the theoretical fields as well as the empirical applications of the models.
A historical account of the course and causes of British economic growth from the mid-nineteenth century until 1973, with special emphasis on the unparalleled growth after the Second World War.