Productivity growth, inflation, and unemployment the collected essays of Robert J. Gordon

Abstract

Part I. The History, Theory, and Measurement of Productivity Growth: Introduction 1. Does the new economy measure up to the great inventions of the past? 2. Interpreting the 'one big wave' in US long-term productivity growth 3. The disappearance of productivity change 4. The concept of capital 5. Is there a tradeoff between unemployment and productivity growth? 6. Forward into the past: productivity retrogression in the electric generating industry Part II. Interpreting Productivity Fluctuations over the Business cycle: Introduction 7. Fresh water, salt water, and other macroeconomic elixirs 8. Are procylical productivity fluctuations a figment of measurement error? 9. The jobless recovery: does it signal a new era of productivity-led growth? Part III. The Theory of Inflation-Unemployment Tradeoff: Introduction 10. Alternative responses of policy to external supply shocks 11. Supply shocks and monetary policy revisited 12. The theory of domestic inflation 13. The Phillips Curve now and then Part IV. Empirical Studies of Inflation Dynamics in the United States: Introduction 14. Can the inflation of the 1970s be explained? 15. The output cost of disinflation in traditional and vector autoregressive models 16. German and American wage and price dynamics: differences and common themes 17. Foundations of the Goldilocks economy: supply shocks and the time-varying NAIRU.

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