Productivity in the U. S. Services Sector: New Sources of Economic Growth

Productivity in the U. S. Services Sector: New Sources of Economic Growth

by Jack E. Triplett, Barry P. Bosworth
     
 

ISBN-10: 0815783353

ISBN-13: 9780815783350

Pub. Date: 10/28/2004

Publisher: Brookings Institution Press

The services industries—which include jobs ranging from flipping hamburgers to providing investment advice—can no longer be characterized, as they have in the past, as a stagnant sector marked by low productivity growth. They have emerged as one of the most dynamic and innovative segments of the U.S. economy, now accounting for more than three-quarters of

…  See more details below

Overview

The services industries—which include jobs ranging from flipping hamburgers to providing investment advice—can no longer be characterized, as they have in the past, as a stagnant sector marked by low productivity growth. They have emerged as one of the most dynamic and innovative segments of the U.S. economy, now accounting for more than three-quarters of gross domestic product. During the 1990s, 19 million additional jobs were created in this sector, while growth was stagnant in the goods-producing sector. Here, Jack Triplett and Barry Bosworth analyze services sector productivity, demonstrating that fundamental changes have taken place in this sector of the U.S. economy. They show that growth in the services industries fueled the post-1995 expansion in the U.S. productivity and assess the role of information technology in transforming and accelerating services productivity. In addition to their findings for the services sector as a whole, they include separate chapters for a diverse range of industries within the sector, including transportation and communications, wholesale and retail trade, and finance and insurance. The authors also examine productivity measurement issues, chiefly statistical methods for measuring services industry output. They highlight the importance of making improvements within the U.S. statistical system to provide the more accurate and relevant measures essential for analyzing productivity and economic growth.

Read More

Product Details

ISBN-13:
9780815783350
Publisher:
Brookings Institution Press
Publication date:
10/28/2004
Edition description:
New Edition
Pages:
401
Product dimensions:
6.00(w) x 9.00(h) x (d)

Table of Contents

1Introduction1
2Overview : industry productivity trends6
Comment : Discussion of productivity trends and measurement issues in services industries41
3Output and productivity in the transportation sector46
4Output and productivity growth in the communications Industry71
Comment : Discussion of the transportation and communications industries87
5Overview : productivity and measurement in the finance and insurance sector95
6Price, output, and productivity of insurance : conceptual issues123
7Measuring banking and finance : conceptual issues177
Comment : Discussion of banking output211
Comment : Discussion of output measurement in the insurance and the banking and finance industries217
Reply to Dennis Fixler230
8Output and productivity in retail trade233
Comment : Discussion of output and productivity in retail trade251
9Output and productivity in other services256
10High-tech capital equipment : inputs to services industries274
11Data needs321
App. AIndustry productivity accounts, 1987-2001339
App. BWorkshops in the Brookings program on output and productivity measurement in the services sector365

Read More

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >