Lec 26_Apr 7-9 IR measurement

Lec 26_Apr 7-9 IR measurement - European Economic History...

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5/10/10 European Economic History Measurement of Growth, the April 7-9, 2010 C. Shiue
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5/10/10 Historiography of national The statistical accounts of the IR rely on Phyllis Deane and W.A. Cole British Economic Growth 1688-1959 (1962). And Walther Hoffman British Industry 1770-1950 (1955). starting in the 1970s and 80s, revisions made to Deane and Cole calculations.
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5/10/10 Key questions on industrial How is growth in productivity measured? What were sources of growth over the period of industrialization in the macroeconomy? Underlying mechanisms—population (P.S. 1), shift from agriculture (P.S. 2), government institutions (North and
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5/10/10 Growth in productivity Total factor productivity (TFP) The logic behind TFP measurement is that output growth can be attributed to either 1. An increase in factors (i.e. the inputs) or… 2. Shifts of the production function. This can be due to technological change or increases
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5/10/10 The math behind TPF Growth Accounting is the technique used for deriving TFP to gain understanding of the sources of economic growth during the Industrial Revolution.
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5/10/10 Sources of Growth, 1700- From table 3.4 in Crafts, “ The Industrial Revolution” Growth of output Due to capital Due to labor Residu
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Lec 26_Apr 7-9 IR measurement - European Economic History...

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