TY - JOUR
T1 - Productivity and the post-1990 U.S. economy
AU - McGrattan, Ellen R.
AU - Prescott, Edward
PY - 2005
Y1 - 2005
N2 - In this paper, the authors show that ignoring corporate intangible investments gives a distorted picture of the post-1990 U.S. economy. In particular, ignoring intangible investments in the late 1990s leads one to conclude that productivity growth was modest, corporate profits were low, and corporate investment was at moderate levels. In fact, the late 1990s was a boom period for productivity growth, corporate profits, and corporate investment.
AB - In this paper, the authors show that ignoring corporate intangible investments gives a distorted picture of the post-1990 U.S. economy. In particular, ignoring intangible investments in the late 1990s leads one to conclude that productivity growth was modest, corporate profits were low, and corporate investment was at moderate levels. In fact, the late 1990s was a boom period for productivity growth, corporate profits, and corporate investment.
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U2 - 10.20955/r.87.537-550
DO - 10.20955/r.87.537-550
M3 - Review article
AN - SCOPUS:33646423851
SN - 0014-9187
VL - 87
SP - 537
EP - 549
JO - Federal Reserve Bank of St. Louis Review
JF - Federal Reserve Bank of St. Louis Review
IS - 4
ER -