MARC Record from Library of Congress

LEADER: 01961nam a22002777a 4500
001 2006619208
003 DLC
005 20060524081902.0
007 cr |||||||||||
008 060524s2006 mau sb 000 0 eng
010 $a 2006619208
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aNordhaus, William D.
245 10 $aBaumol's diseases$h[electronic resource] :$ba macroeconomic perspective /$cWilliam D. Nordhaus.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2006.
490 1 $aNBER working paper series ;$vworking paper 12218
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 5/24/2006.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"William Baumol and his co-authors have analyzed the impact of differential productivity growth on the health of different sectors and on the overall economy. They argued that technologically stagnant sectors experience above average cost and price increases, take a rising share of national output, and slow aggregate productivity growth. Using industry data for the period 1948-2001, the present study investigates Baumol's diseases for the overall economy. It finds that technologically stagnant sectors clearly have rising relative prices and declining relative real outputs. Additionally, technologically progressive sectors tend to have slower hours and employment growth outside of manufacturing. Finally, sectoral shifts have tended to lower overall productivity growth as the share of stagnant sectors has risen over the second half of the twentieth century"--National Bureau of Economic Research web site.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 12218.
856 40 $uhttp://papers.nber.org/papers/w12218