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Why Did Productivity Fall So Much during the Great Depression?

Ohanian, Lee E.

The American economic review, 2001-05, Vol.91 (2), p.34-38 [Periódico revisado por pares]

Nashville: American Economic Association

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Título:
Why Did Productivity Fall So Much during the Great Depression?
Autor: Ohanian, Lee E.
Assuntos: Capital ; Capital stock ; Development and History: A Session to Honor Stanley Engerman ; Distribution ; Economic depression ; Economic depressions ; Economic models ; Economic recessions ; Economic shock ; Economic theory ; Efficiency ; Efficiency loss ; Employment ; Employment statistics ; Great Depression ; Growth models ; History ; Impact analysis ; Labour ; Manufacturing ; Marketing ; Mental depression ; Organizations ; Production ; Productivity ; Proxy reporting ; Recessions ; Relative prices ; U.S.A ; Wages ; Workers
É parte de: The American economic review, 2001-05, Vol.91 (2), p.34-38
Notas: ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
Descrição: Stanley Engerman has made contributions to many areas of economics, including analyses of long run productivity change. This paper honoring Engerman's distinguished career studies a striking short run productivity change: a large productivity decrease that occurred during the Great Depression. This paper presents productivity data from the Depression, and assesses how much of the decrease can be explained by five factors: changes in capacity utilization; changes in the quality of factor inputs; changes in the composition of production; labor hoarding; and increasing returns. All of these factors combined explain less than one-third of the 18% decrease. It is suggested that decreases in organizational capital may be a promising candidate for understanding this productivity decrease.
Editor: Nashville: American Economic Association
Idioma: Inglês

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Why Did Productivity Fall So Much during the Great Depression?

Ohanian, Lee E.

Nashville: American Economic Association

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