Does the United States have a productivity slowdown or a measurement problem?
David M. Byrne, John G. Fernald and Marshall B. Reinsdorf. Brookings Papers on Economic Activity | March 4, 2016
“Underlying macroeconomic trends—not mismeasurement of IT-related innovations—are responsible for the slowdown in U.S. labor productivity and total factor productivity (TFP) since the early 2000s, according to a new Brookings paper published today. Economists and policymakers have been trying to understand why productivity slowed; slower productivity growth means smaller increases in GDP and inflation-adjusted wages.”