Sources of Growth Accounting as the Basis for Long-term Projection in the United States

  • E. F. Denison
Part of the International Economic Association Conference Volumes, Numbers 1–50 book series (IEA)


All long-run projections of total output combine pieces of information pertinent to the future with guesses and with extrapolations of past trends or associations, and no method can assure accuracy. A projection based on the sources of growth technique is no exception.


National Income Labour Input Growth Account Unpaid Family Worker Average Hourly Earning 
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  1. 3.
    Edward F. Denison, Why Growth Rates Differ: Postwar Experience in Nine Western Countries (Washington: Brookings Institution. 1967).Google Scholar
  2. 3.
    The model is described in Lester C. Thurow, ‘A Fiscal Policy Model of the United States’, Survey of Current Business, vol. 49 (June 1969) pp. 45–64.Google Scholar

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© International Economic Association 1976

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  • E. F. Denison

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