MYRON SCHOLES GLOBAL MARKETS FORUM

Productivity Growth Is Slower Than You Think. Should You Be Worried?

October 30, 2017, 5:30pm - 7:30pm

Despite the rapid spread and high utilization of new technologies like smartphones, search engines, and social networking sites, the US and other major economies around the world have been experiencing slow measured productivity growth for more than a decade. Some have proposed this this reflects a measurement problem—that standard economic statistics are not up to the task of measuring the impact of these transformative technologies. I show that, in several different ways, the data do not support this ‘mismeasurement hypothesis.’ The productivity growth slowdown is real and costly. I explore prospects for future productivity growth and ask whether current nascent technologies might break the world out of its slow-growth slump.

The Myron Scholes Global Markets Forum is part of the Initiative on Global Markets (IGM) and is generously sponsored by Myron Scholes.

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Where

Gleacher Center
450 N Cityfront Plaza Drive, Room 100
Chicago, IL 60611

Questions

Peggy Eppink

773-834-8029

Speaker Profile


Chad Syverson is the J. Baum Harris Professor of Economics at the University of Chicago Booth School of Business.

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His research spans several topics, with a particular focus on the interactions of firm structure, market structure, and productivity. He has authored or coauthored dozens of scholarly articles and is the coauthor (with Austan Goolsbee and Steve Levitt) of intermediate-level textbook, Microeconomics. A former mechanical engineer, he has been on the economics faculty at the University of Chicago since 2001.

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