Insights / Research Brief•Sep 13, 2023
Bottlenecks: Sectoral Imbalances and the US Productivity Slowdown
Daron Acemoglu, David Autor, Christina Patterson
Lagging US productivity growth since the 1970s, despite the rapid pace of innovation in information and communications technologies (ICT) and electronics, is explained in part from an unbalanced sectoral distribution of innovation; that is, technological advances over the last several decades have been unbalanced across sectors and have created endogenous bottlenecks, holding back aggregate productivity.
Topics:
Employment & Wages