Energy, Obsolescence, and the Productivity Slowdown
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The growth rate of output per worker in the U.S. declined sharply during the 1970's. A leading explanation of this phenomenon holds that the dramatic rise in energy prices during the 1970's caused a significant portion of the U.S. capital stock to become obsolete. This led to a decline in effective
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美国国家经济研究局创建时间：
1987-10-01
