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"Between 1929 and 1933, real output per adult fell over 30 percent and total factor productivity fell 18 percent.This productivity decrease is much larger than expected from just extrapolating the productivity decrease that typically occurs during recessions.This paper evaluates what factors may have caused this large decrease, including unmeasured factor utilization, changes in the composition of production, and increasing returns.I find that these factors combined explain less than one-third of the 18 percent decrease, and I conclude that the productivity decrease during the Great Depression remains a puzzle"--Federal Reserve Bank of Minneapolis web site.
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Subjects
Industrial productivity, Depressions, HistoryTimes
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Why did productivity fall so much during the great depression?
2001, Federal Reserve Bank of Minneapolis
Electronic resource
in English
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Book Details
Edition Notes
Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/15/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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- Created April 1, 2008
- 5 revisions
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December 13, 2020 | Edited by MARC Bot | import existing book |
July 29, 2012 | Edited by VacuumBot | Updated format '[electronic resource] /' to 'Electronic resource' |
December 12, 2009 | Edited by WorkBot | link works |
October 31, 2008 | Edited by ImportBot | add URIs from original MARC record |
April 1, 2008 | Created by an anonymous user | Imported from Scriblio MARC record |