论文信息 - Energy efficiency and the slump in labour productivity in the USA

Energy efficiency and the slump in labour productivity in the USA

Energy consumption is included in an aggregate Cobb-Douglas production function for the USA. The data suggest that energy conservation has not reduced the growth rate for real GNP by more than 0.3 percentage points and that less than one-fifth of the overall slump in labour productivity since 1973 should be attributed to higher energy prices.

Edward F. Renshaw | E. Renshaw

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