Measuring Economic Growth and Productivity - 1st Edition - ISBN: 9780128175965

Measuring Economic Growth and Productivity

1st Edition

Foundations, KLEMS Production Models, and Extensions

Editors: Barbara Fraumeni
Paperback ISBN: 9780128175965
Imprint: Academic Press
Published Date: 1st September 2019
Page Count: 500
Sales tax will be calculated at check-out Price includes VAT/GST

Institutional Subscription

Secure Checkout

Personal information is secured with SSL technology.

Free Shipping

Free global shipping
No minimum order.

Description

Measuring Economic Growth and Productivity: Foundations, KLEMS Production Models, and Extensions presents new insights into the causes, mechanisms and results of growth in national and regional accounts. It demonstrates the versatility and usefulness of the KLEMS databases, which generate internationally comparable industry-level data on outputs, inputs and productivity. By rethinking economic development beyond existing measurements, the book's contributors align the measurement of growth and productivity to contemporary global challenges, addressing the need for measurements superior to the Gross Domestic Product.

All contributors in this foundational volume are recognized experts in their fields, all inspired by the path-breaking research of Dale W. Jorgenson.

Key Features

  • Demonstrates how an approach based on sources of economic growth (KLEMS – capital, labor, energy, materials and services) can be used to analyze economic growth and productivity
  • Includes examples covering the G7, E7, EU, Latin America, Norway, China, Taiwan, Japan, Korea, India and other South Asian countries
  • Examines the effects of digital, information, communication and integrated technologies on national and regional economies

Readership

Upper-division undergraduates, graduate students, and researchers working on global economic growth and productivity issues

Table of Contents

Introduction
Barbara M. Fraumeni

Foundations
1. Economic Growth
Edward A. Hudson
2. National Income Accounting
Steve Landefeld
3. Taxation
Kun-Young Yun

KLEMS
4. Sources of Growth in the World Economy: A Comparison of G7 and E7 Economies
Khuong Vu
5. EU KLEMS
Robert Inklaar, Kirsten Jaeger, Mary O’Mahony, and Bart van Ark
6. Latin America KLEMS
Andre Hofman and Matilde Mas
7. India KLEMS
Deb Kusum Das and team
8. ICT Development and its Impact on Employment in Japan and Korea
Kyoji Fukao, Tsutomu Miyagawa, Hak K. Pyo, Keun Hee Rhee, and Miho Takizawa
9. A Comparison on ICT Productivity Changes between China and Taiwan
Tsu-tan Fu, Chi-yuan Liang, and Harry Wu
10. Measuring Quality-adjusted Labor Inputs in South Asia, 1970–2015
Koji Nomura
11. Norway KLEMS
Gang Liu
12. Progress on Australia and Russia KLEMS
Thai Nguyen and Ilya Voskoboynikov
13. Historical KLEMS Estimates and the 2018 Comprehensive Revision of the U.S. National Accounts
Jon Samuels

Extensions
14. ICT Prices
Dan Sichel
15. Digital Economy
Marshall Reinsdorf
16. Spillovers from Intangible Capital and Productivity in the EU and US
Carol Corrado, Jonathan Haskel, and  Cecilia Jona-Lasinio
17. Global Value Chains
Marcel Timmer
18. Carbon Taxes (U.S) in a Dynamic General Equilibrium Model
Richard Goettle, Mun Ho, and Peter Wilcoxen
19. Carbon Price Policy for China
Jing Cai, Mun Ho, and Wenhao Hu
20. Consumption and Welfare
Dan Slesnick
21. Accumulation of U.S. Human and Nonhuman Capital, 1948-2013: A Long View
Barbara M. Fraumeni and Michael Christian

Details

No. of pages:
500
Language:
English
Copyright:
© Academic Press 2020
Published:
Imprint:
Academic Press
Paperback ISBN:
9780128175965

About the Editor

Barbara Fraumeni

Barbara M. Fraumeni is Special-term Professor of the China Center for Human Capital and Labor Market Research of the Central University of Economics and Finance, Beijing, China; Research Associate of the National Bureau of Economic Research, Cambridge, MA, USA, IZA Research Fellow, Bonn, Germany and Professor Emerita of the Muskie School of Public Service of the University of Southern Maine, Portland, ME, USA. She has conducted research in the area of economic growth, productivity, and human and nonhuman capital. A long-time associate of Dale W. Jorgenson, the Samuel W. Morris University Professor at Harvard University, she co-authored with him an early KLEM article in 1981, their three seminal articles on human and nonhuman capital in the late eighties and early nineties, also with him and Frank Gollop the book: "Productivity and U.S. Economic Growth" in 1987. In between academic appointments, she served as Chief Economist of the Bureau of Economic Analysis from 1999 to 2005. In that position she was awarded with others a U.S. Department of Commerce gold medal for capitalizing R&D in GDP. For the past 10 years, she has worked with Chinese researchers to produce estimates of human capital for China. Most recently, she served as a consultant to the World Bank to advise them in their construction of Jorgenson-Fraumeni human capital for 141 countries, which were released as part of their wealth estimates publication in early 2018.

Affiliations and Expertise

Central University of Economics and Finance, Beijing, China

Ratings and Reviews