Projecting Productivity Growth: Lessons from the U.S. Growth Resurgence
The unusual combination of more rapid output growth and lower inflation from 1995 to 2000 has touched off a strenuous debate among economists about whether improvements in U.S. economic performance can be sustained. This debate has intensified with the recession that began in March 2001, and the economic impacts of the events of September 11 are still imperfectly understood. Both factors add to the considerable uncertainties about future growth that currently face decision makers in both the public and private sectors.
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