Measuring Economic Growth and Productivity. Foundations, KLEMS Production Models, and Extensions

Table of Contents

1. Economic growth: a different view 2. Expanding the conceptual foundation, scope, and relevance of the US national accounts: The intersection of theory, research, and measurement 3. Tax policy and resource allocation 4. Sources of growth in the world economy: A comparison of G7 and E7 economies 5. European productivity in the digital age: Evidence from EU KLEMS 6. Manufacturing productivity in India: The role of foreign sourcing of inputs and domestic capacity building 7. An international comparison on TFP changes in ICT industry among Japan, Korea, Taiwan, China, and the United States 8. Losing steam? - An industry origin analysis of China's productivity slowdown 9. Growth origins and patterns in the market economy of mainland Norway, 1997-2014 10. Progress on Australia and Russia KLEMS 11. Toward a BEA-BLS integrated industry-level production account for 1947-2016 12. Benchmark 2011 integrated estimates of the Japan-US price-level index for industry outputs 13. The impact of information and communications technology investment on employment in Japan and Korea 14. Economic valuation of knowledge-based capital: An international comparison 15. Measuring consumer inflation in a digital economy 16. Intangible capital, innovation, and productivity a la Jorgenson evidence from Europe and the United States 17. Getting smart about phones: New price indexes and the allocation of spending between devices and services plans in Personal Consumption Expenditures 18. Accounting for growth and productivity in global value chains 19. Emissions accounting and carbon tax incidence in CGE models: Bottom-up versus top-down 20. Analyzing carbon price policies using a general equilibrium model with household energy demand functions 21. GDP and social welfare: An assessment using regional data 22. Accumulation of human and market capital in the United States, 1975-2012: An analysis by gender

Authors

Barbara Fraumeni Central University of Finance and Economics, Beijing, China. Barbara M. Fraumeni is Special-term Professor of the China Center for Human Capital and Labor Market Research of the Central University of Finance and Economics, Beijing, China; Research Associate of the National Bureau of Economic Research, Cambridge, MA, USA, IZA Research Fellow, Bonn, Germany and Professor Emerita of the Muskie School of Public Service of the University of Southern Maine, Portland, ME, USA. She has conducted research in the area of economic growth, productivity, and human and nonhuman capital. A long-time associate of Dale W. Jorgenson, the Samuel W. Morris University Professor at Harvard University, she co-authored with him an early KLEM article in 1981, their three seminal articles on human and nonhuman capital in the late eighties and early nineties, also with him and Frank Gollop the book: "Productivity and U.S. Economic Growth" in 1987. In between academic appointments, she served as Chief Economist of the Bureau of Economic Analysis from 1999 to 2005. In that position she was awarded with others a U.S. Department of Commerce gold medal for capitalizing R&D in GDP. For the past 10 years, she has worked with Chinese researchers to produce estimates of human capital for China. Most recently, she served as a consultant to the World Bank to advise them in their construction of Jorgenson-Fraumeni human capital for 141 countries, which were released as part of their wealth estimates publication in early 2018.