tag:blogger.com,1999:blog-8595404115121834255.post1406448553143393079..comments2024-03-28T03:24:05.678-04:00Comments on NAKED KEYNESIANISM: The mystery of productivity: what mystery?Matias Vernengohttp://www.blogger.com/profile/09521604894748538215noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8595404115121834255.post-56035018593629811332016-07-13T07:54:06.166-04:002016-07-13T07:54:06.166-04:00"The record clearly shows that manhour produc..."The record clearly shows that manhour productivity is depressed by low levels of utilization, and that periods of movement toward full employment yield considerably above-average productivity gains." -- <a href="https://milescorak.files.wordpress.com/2016/01/okun-potential-gnp-its-measurement-and-significance-p0190.pdf" rel="nofollow">Arthur Okun</a>, 1962<br />:)<br />The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-8595404115121834255.post-73177612823861964602014-12-06T17:04:02.309-05:002014-12-06T17:04:02.309-05:00I tend to share your view on the endogenous nature...I tend to share your view on the endogenous nature of productivity. I actually think that Blinder, to a large extent actually agrees with you. Check out what Blinder had to say more recently here, which I think is consistent with your view:<br /><br />"I have saved the best option, in terms of likely effectiveness, for closing the gap between productivity and wages for last: speeding up the rate of economic growth and tightening labor markets. It’s not a panacea, to be sure, but running a high-pressure economy is the surest way to boost the demand for labor—often for labor at all skill levels. And steep competition for labor is probably the surest route to higher real wages; firms will pay more for labor when they have to. Lately, with so much slack in labor markets, they haven’t had to."<br /><br />http://www.washingtonmonthly.com/magazine/novemberdecember_2014/features/petrified_paychecks052713.php?page=all<br /><br />On a related point, Robert Gordon argues that productivity may no longer be procyclical. <br /><br />http://economics.weinberg.northwestern.edu/robert-gordon/The%20Demise%20of%20Okun%27s%20Law_NBER.pdf<br />circuithttps://www.blogger.com/profile/08565443970730261572noreply@blogger.comtag:blogger.com,1999:blog-8595404115121834255.post-63198826188515002142014-12-05T09:05:08.948-05:002014-12-05T09:05:08.948-05:00Contours of descent is a book, but some parts are ...Contours of descent is a book, but some parts are similar to his paper Anatomy of Clintonomics available here http://newleftreview.org/II/3/robert-pollin-anatomy-of-clintonomicsMatias Vernengohttps://www.blogger.com/profile/09521604894748538215noreply@blogger.comtag:blogger.com,1999:blog-8595404115121834255.post-32652007188121099692014-12-05T03:13:45.999-05:002014-12-05T03:13:45.999-05:00Hi Matias, Your paper that you link to has the fol...Hi Matias, Your paper that you link to has the following footnote:<br /><br /><i>11. This does not imply that the Clinton boom was devoid of problems. First,the recovery did little to improve income distribution,and it was based,to a great extent,on the “dot.com”bubble. For a critique of the Clinton years,see Robert Pollin (2003)</i><br /><br />Is the Robert Pollin (2003) critique stuffed in a fancy journal somewhere or is it available online (you know, on one of the FREE sites)? If so, can you please link?Trixiehttps://www.blogger.com/profile/17763994914034770622noreply@blogger.com