Abstract
Both economic growth and productivity growth declined sharply in the 1970s. For the 1959–73 period, real output and productivity growth averaged over four and two percent, respectively; since 1973, each has been one and a half percentage points less.1 Productivity growth has rebounded in recent years, but substantial concern still exists regarding the long-run output path of the United States’ economy. Major tax reform has the potential to alter that path significantly.
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Hendershott, P.H. (1989). The Tax Reform Act of 1986 and Economic Growth. In: Black, S.W. (eds) Productivity Growth and the Competitiveness of the American Economy. Studies in Productivity Analysis. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-2494-9_6
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DOI: https://doi.org/10.1007/978-94-009-2494-9_6
Publisher Name: Springer, Dordrecht
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