Productivity Growth, Inflation, and Unemployment: The Collected Essays of Robert J. Gordon
The 17 seminal essays by Robert J. Gordon collected here, including three previously unpublished works, offer sharply etched views on the principal topics of macroeconomics namely, growth, inflation, and unemployment.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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THE HISTORY THEORY AND MEASUREMENT OF PRODUCTIVITY GROWTH
Does the New Economy Measure Up to the Great Inventions of the Past?
Interpreting the One Big Wave in US Longterm Productivity Growth
The Disappearance of Productivity Change
The Concept of Capital
Is There a Tradeoff between Unemployment and Productivity Growth?
Forward into the Past Productivity Retrogression in the Electric Generating Industry
INTERPRETING PRODUCTIVITY FLUCTUATIONS OVER THE BUSINESS CYCLE
Alternative Responses of Policy to External Supply Shocks
Supply Shocks and Monetary Policy Revisited
The Theory of Domestic Inflation
The Phillips Curve Now and Then
EMPIRICAL STUDIES OF INFLATION DYNAMICS IN THE UNITED STATES
Can the Inflation of the 1970s be Explained?
The Output Cost of Disinflation in Traditional and Vector Autoregressive Models
German and American Wage and Price Dynamics Differences and Common Themes
Fresh Water Salt Water and Other Macroeconomic Elixirs
Are Procyclical Productivity Fluctuations a Figment of Measurement Error?
The Jobless Recovery Does It Signal a New Era of ProductivityLed Growth?
THE THEORY OF THE INFLATIONUNEMPLOYMENT TRADEOFF
acceleration actual aggregate average behavior business cycle capacity utilization capital deepening capital input Chapter column contribution cyclical deceleration decline deflator demand Denison deviation difference dummy econometric economic growth effect electric end-of-expansion equipment error estimated explain Figure GDP deflator Gordon Griliches and Jorgenson growth rate hysteresis increase inflation rate investment Keynesian labor and capital labor cost labor input labor's share lagged macroeconomics manufacturing measured MFP growth mismeasurement multifactor productivity NAIRU new-classical nominal income nonfarm prices output gap output per hour paper parameter percent percentage point Phillips curve plants price equation price level procyclical productivity growth real business cycle real wage regression relative price residual sample period sector shift simulations slowdown Solow structural supply shocks Table tax wedge technical change total factor productivity trend triangle model TV-NAIRU unemployment rate United variables vintage wage and price wage change wage equation wage-setting workers zero