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Articles by Shawn Sprague
GDP, GDI, and GDO: an evaluation of output measures for productivity analysis
Article Official U.S. nonfarm business labor productivity growth estimates are based on the product-side output measure of gross domestic product (GDP). Labor productivity can also be estimated based on the income-side output measure of gross domestic income (GDI) and on the average of GDP and GDI, also known as gross domestic output (GDO).
The U.S. productivity slowdown: an economy-wide and industry-level analysis
Article April 2021 Labor productivity—defined as output per labor hour—has grown at a below-average rate since 2005, representing a dramatic reversal of the above-average growth of the late 1990s and early 2000s. The productivity slowdown during these years has left many economic observers wondering why this situation has occurred and what factors may have contributed.
Estimating the U.S. labor share
Article February 2017 The labor share—the fraction of economic output that accrues to workers as compensation in exchange for their labor—was thought by some early-to-mid-20th-century economists to be relatively stable. Yet its decline during the second half of the 20th century and on into the early years of the 21st century has shown otherwise, attracting the interest of many researchers.
Below trend: the U.S. productivity slowdown since the Great Recession
January 2017 | Vol. 6 / No. 2 PRODUCTIVITY By Shawn Sprague In the span of just six quarters between 2007 and 2009, nonfarm business output declined by $753 billion and 8.1 million jobs were lost. This period, known as the Great Recession, was the worst American recession since the Great Depression. The U.S. economy has been recovering from this historic decline for 7 years and is now in the midst of the one of the longest business cycles of the post–World War II (WWII) era.
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