MUCH OF THE TRADITIONAL analysis of productivity growth in manufacturing industries
has been based explicitly or implicitly on a model in which identical, perfectly competitive …

This paper examines some implications of two postulates for firms' wage and employment
policies. The first is that firms, or stockholders, have easier access to. capital markets at lower …

… Baily and Tobin argue that public employment programs can be useful in addressing the
problem of high turnover; see Martin Neil Baily and James Tobin, "Macroeconomic Effects of …

* The original version of this paper was written for the Office of ASPER of the US Department
of Labor in 1975. This is a revision of ‘Unemployment insurance as a social insurance …

ALMOST TWO DECADES have now passed since US productivity growth first showed signs
of slowing, more than 15 years since the first paper on that topic appeared in this journal. 1 …

IN 1970, when Robert Hall asked," Why Is the Unemployment Rate So High at Full Employment?"
the unemployment rate for adult men stood at 3.5 percent. i That rate, which had been …

The conventional wisdom is that the rising productivity in the US manufacturing sector in the
1980s has been driven by the apparently pervasive downsizing over this period. Aggregate …

In the 1990’s, information technology (IT) became hot. The stock market took off, powered by
technology companies. Productivity took off, increasing at a rate of 3 percent per year after …

The development of the US manufacturing sector over the last half-century displays two
striking and somewhat contradictory features: 1) the growth of real output in the US …

ON AVERAGE, manufacturing productivity (measured by real value added per hour) is higher
in US operations than in Japanese or European operations, but productivity by industry …