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

by Robert J. Gordon, Robert M. Solow

Overview

Seventeen essays include three previously unpublished works and offer sharply etched views on the principal topics of macroeconomics: growth, inflation, and unemployment. Robert Gordon re-examines their salient points in a new accessible 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 continuing importance of these essays which date from 1968 to the present.

Product Details

ISBN-13:	9780521531429
Publisher:	Cambridge University Press
Publication date:	12/15/2003
Edition description:	New Edition
Pages:	520
Product dimensions:	5.98(w) x 9.02(h) x 1.14(d)

Table of Contents

Part I. The History, Theory, and Measurement of Productivity Growth: Introduction; 1. Does the new economy measure up to the great inventions of the past?; 2. Interpreting the 'one big wave' in US long-term productivity growth; 3. The disappearance of productivity change; 4. The concept of capital; 5. Is there a tradeoff between unemployment and productivity growth?; 6. Forward into the past: productivity retrogression in the electric generating industry; Part II. Interpreting Productivity Fluctuations over the Business cycle: Introduction; 7. Fresh water, salt water, and other macroeconomic elixirs; 8. Are procylical productivity fluctuations a figment of measurement error?; 9. The jobless recovery: does it signal a new era of productivity-led growth?; Part III. The Theory of Inflation-Unemployment Tradeoff: Introduction; 10. Alternative responses of policy to external supply shocks; 11. Supply shocks and monetary policy revisited; 12. The theory of domestic inflation; 13. The Phillips Curve now and then; Part IV. Empirical Studies of Inflation Dynamics in the United States: Introduction; 14. Can the inflation of the 1970s be explained?; 15. The output cost of disinflation in traditional and vector autoregressive models; 16. German and American wage and price dynamics: differences and common themes; 17. Foundations of the Goldilocks economy: supply shocks and the time-varying NAIRU.