Productivity Growth, Inflation, and Unemployment: The Collected Essays of Robert J. Gordon

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Cambridge University Press, 2004 - Business & Economics - 504 pages
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The 17 seminal essays by Robert J. Gordon collected here, including three previously unpublished works, offer sharply etched views on the principal topics of macroeconomics namely, growth, inflation, and unemployment. The author re-examines their salient points in a uniquely creative, accessible introduction that serves on its own as an introduction to modern macroeconomics. Each of the four parts into which the essays are grouped also offers a new introduction. The foreword by Nobel Laureate Robert M. Solow comments on the abiding importance of these essays drawn from 1968 to the present.
  

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Contents

THE HISTORY THEORY AND MEASUREMENT OF PRODUCTIVITY GROWTH
7
Does the New Economy Measure Up to the Great Inventions of the Past?
22
Interpreting the One Big Wave in US Longterm Productivity Growth
50
The Disappearance of Productivity Change
90
The Concept of Capital
134
Is There a Tradeoff between Unemployment and Productivity Growth?
143
Forward into the Past Productivity Retrogression in the Electric Generating Industry
172
INTERPRETING PRODUCTIVITY FLUCTUATIONS OVER THE BUSINESS CYCLE
219
Alternative Responses of Policy to External Supply Shocks
313
Supply Shocks and Monetary Policy Revisited
332
The Theory of Domestic Inflation
340
The Phillips Curve Now and Then
349
EMPIRICAL STUDIES OF INFLATION DYNAMICS IN THE UNITED STATES
359
Can the Inflation of the 1970s be Explained?
367
The Output Cost of Disinflation in Traditional and Vector Autoregressive Models
389
German and American Wage and Price Dynamics Differences and Common Themes
420

Fresh Water Salt Water and Other Macroeconomic Elixirs
226
Are Procyclical Productivity Fluctuations a Figment of Measurement Error?
239
The Jobless Recovery Does It Signal a New Era of ProductivityLed Growth?
273
THE THEORY OF THE INFLATIONUNEMPLOYMENT TRADEOFF
305
Foundations of the Goldilocks Economy Supply Shocks and the TimeVarying NAIRU
457
Subject Index
489
Author Index
501
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