Intangibles, Markups, and the Measurement of Productivity Growth
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In recent years, measured TFP growth in the US has declined. We argue that two forces contributed to this decline: the mismeasurement of intangible capital, and rising markups. Markups affect input shares, while intangibles omitted from measures of investment affect measured capital growth, each
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美国国家经济研究局创建时间：
2021-08-01
