scholarly journals Th e Enigma of US Productivity Slowdown: A Theoretical Analysis

2014 ◽  
Vol 1 (1) ◽  
pp. 7-15 ◽  
Author(s):  
Abdul Ghafoor Awan ◽  
Rana Ejaz Ali Khan
Keyword(s):  
Information Technology ◽  
Productivity Growth ◽  
Labour Productivity ◽  
Secondary Data ◽  
The United States ◽  
Research Approach ◽  
Productivity Slowdown ◽  
Us Economy ◽  
The Us ◽  
The World

Introduction: The economy of the United States is the number one economy of the world on the basis of its GDP size. Many economies of the world depend upon the working upon it. However, US economy has been facing the phenomena of labour productivity slowdown since 1973. The productivity grow was witnessed during 1990s decade due to revolution of information technology but it was proved transitory. To investigate this phenomenon the economists have been actively working and using different theoretical and empirical approaches. But it is still an enigma and its real cause has so far not been detected. The objective of the Study: The objective of this research study is to investigate why US economy has been facing productivity growth slowdown since long, what are its causes and what is its possible solution?. Methodology: The author has used qualitative research approach in which real economy sector and technology economy sector have been studied on the basis of secondary data collected from OECD, IMF, World Bank,etc. The individual share of these sectors in the US GDP has been determined to analyze their effects on productivity growth. The author has also compared goods and services sectors and their contribution into the US GDP. Findings: The results of study shows that no breakthrough or major innovation has occurred in the major sector of US economy. Information technology is a small sector and growth in this sector during 1990s has not brought any signifi cant impact on the US economy. The evidence shows that quality of patents is falling despite increasing number of researchers during the period of 1990-2010 and it refl ects diminishing return on R&D investment in the technology sector. The ratio of input/output is 40/100 which is totally against the concept of constant return to scale.

scholarly journals FOREIGN TRADE SPATIAL DYNAMICS AND PROMOTION OF AGRICULTURAL EXPORTS OF THE UNITED STATES OF AMERICA

2021 ◽  
Vol 2 (196) ◽  
pp. 17-25
Author(s):  
V.N. Minat ◽  
Keyword(s):  
United States ◽  
Foreign Trade ◽  
Agricultural Production ◽  
Spatial Dynamics ◽  
The United States ◽  
Agricultural Products ◽  
Agricultural Exports ◽  
Us Economy ◽  
The Us ◽  
The World

As part of the study of agricultural production, as one of the leading export-oriented sectors of the US economy, the dynamics of foreign trade in American agricultural products, which is objectively recognizable in the categorical and economic evolution of spatial patterns, is considered. The latter are considered in the context of the global regional structure of agricultural exports and imports of the United States in 1946–2019 and the features of stimulating the export of American agricultural products in the context of the main regions and countries of the world for the same period of time. Based on the synthesis of historical/evolutionary and spatial approaches, methodologically filled with methods of abstract-logical and statistical-economic analysis of official American statistics, the provisions on geo-economic conjuncture, expansionism and protectionism of US foreign trade in the world/global agricultural market are empirically proved.

scholarly journals Statistical Analysis of the Performance of a Big and Open Economy: The Case of the U.S.

2018 ◽  
pp. 10-17
Author(s):  
O. V. Zhuravliov ◽  
О. М. Simachova
Keyword(s):  
United States ◽  
Open Economy ◽  
Developing Economies ◽  
Negative Impact ◽  
The United States ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
Macroeconomic Indicators ◽  
The Impact

The US economy is one of the richest and most diversified economies in the world and keeps its leadership in the global economy for the past 100 years. The United States is a global leader in computer technology, pharmaceuticals and the manufacture of medical, aerospace and military equipment. And although services make up about 80% of GDP, the US remains the second largest producer of industrial goods in the world and is a leader in research and development. President Donald Trump was elected in November 2016, promising a big gap with his predecessor’s regulatory, tax and trade policies. Therefore, the current socio-economic status of the USA and the possible ways of its development in the future are interesting for studying the impact on other economies, in particular, on the Ukrainian economy and the search for new and optimal ways of developing relations between the United States and Ukraine. Key macroeconomic indicators of the US economy in 2011–2018 are analyzed, demonstrating the influence of Donald Tramp’s new policy on changes in the indicators of the economy, the labor market, trade, etc., as well as possible ways of development in the coming years. The review of key macroeconomic indicators gives grounds for classifying the American economy as healthy one. Rates of GDP growth will remain in the range of 2 to 3%. These rates of growth in the world’s largest economy are callable to ensure a substantial increase in the global activity. But uncertainties in the politics may hinder global growth and have clearly negative impact on the investment growth in developed and developing economies.

scholarly journals Predicting the outcome of H-1B visa using ANN Algorithm

2020 ◽  
Vol 9 (1) ◽  
pp. 2421-2424
Keyword(s):  
Work Experience ◽  
The United States ◽  
High Accuracy ◽  
Bachelor's Degree ◽  
Us Economy ◽  
Approval Rate ◽  
Number Of Factors ◽  
The Us ◽  
The World ◽  
Relevant Factors

H-1B visa allows US employers to employ nonimmi- grant workers on a temporary basis. This visa only allows specialty workers to gain employment in the United States which means people who have a bachelor’s degree or equivalent work experience are eligible. The duration of H-1B visa is 3 years and it may extend to 6 years. The H-1B visa is the most sought after visa in the world, however it has a low approval rate. In 2019, 200000 people applied for the visa worldwide of which only 85000 people were selected which means an approval rate of only 42%. This fight to obtain the visa is getting more competitive as the US Economy improves. This selection depends upon a number of factors such as employer, wage etc. This paper helps to predict whether an individual can gain the H1B visa or not taking in account all the relevant factors. The proposed system secured a high accuracy of 96% by using ANN algorithm.

scholarly journals Network Centric Warfare dan Perang Asimetris di Afghanistan

2018 ◽  
Vol 4 (2) ◽  
Author(s):  
Azis Rahmani
Keyword(s):  
Information Technology ◽  
Use Of Force ◽  
The United States ◽  
Al Qaeda ◽  
Military Operations ◽  
Asymmetric Warfare ◽  
The Us ◽  
The World ◽  
Military Strength ◽  
Global War

The development of information technology in the world in the last few decades has made the United States (US) develop military doctrine based on information technology called "warfare network centric". When the US invades Afghanistan as part of the global war against terrorism the doctrine of "network centric warfare" is tested to overcome the conditions of asymmetrical warfare in Afghanistan with the ability to superior information and the use of force in use that can compensate for Taliban fighting and Al-Qaeda is organized by not being hierarchically structured. In conditions of balanced strategic interaction in the conditions of asymmetrical warfare, the US should be able to neutralize Al-Qaeda and the Taliban easily and quickly but the disparities that occur in asymmetric warfare in Afghanistan not only in military strength but also in status, ideological and structural disparities the aim of military operations in Afghanistan has not been fully achieved by the US and has made the war last long.

How Important is Technology Capital for the United States?

2012 ◽  
Vol 4 (2) ◽  
pp. 218-248 ◽  
Author(s):  
Marek Kapic˘ka
Keyword(s):  
United States ◽  
The United States ◽  
Welfare Loss ◽  
Welfare Gain ◽  
Us Economy ◽  
The Us ◽  
The World

I construct measures of technology capital and country openness for the US economy and the rest of the world for 1982–2007. The key identifying assumption is that firms equalize returns on tangible and technology capital. For the US economy, technology capital is about one-third of tangible capital, and the degree of openness is between 0.61 and 0.70. I provide both a two-country estimation and a multicountry estimation, and find that the US estimates are almost identical in both cases. The welfare loss from totally closing the US economy is small, but the welfare gain from totally opening the US economy is large. (JEL E22, F41, O30)

scholarly journals Challenges to Mismeasurement Explanations for the US Productivity Slowdown

2017 ◽  
Vol 31 (2) ◽  
pp. 165-186 ◽  
Author(s):  
Chad Syverson
Keyword(s):  
Information And Communication Technologies ◽  
Productivity Growth ◽  
Communication Technologies ◽  
The United States ◽  
Prima Facie ◽  
Research Literature ◽  
Prima Facie Case ◽  
Productivity Slowdown ◽  
The Us ◽  
Information And Communication

The United States has been experiencing a slowdown in measured labor productivity growth since 2004. A number of commentators and researchers have suggested that this slowdown is at least in part illusory because real output data have failed to capture the new and better products of the past decade. I conduct four disparate analyses, each of which offers empirical challenges to this “mismeasurement hypothesis.” First, the productivity slowdown has occurred in dozens of countries, and its size is unrelated to measures of the countries' consumption or production intensities of information and communication technologies (ICTs, the type of goods most often cited as sources of mismeasurement). Second, estimates from the existing research literature of the surplus created by internet-linked digital technologies fall far short of the $3 trillion or more of “missing output” resulting from the productivity growth slowdown. Third, if measurement problems were to account for even a modest share of this missing output, the properly measured output and productivity growth rates of industries that produce and service ICTs would have to have been multiples of their measured growth in the data. Fourth, while measured gross domestic income has been on average higher than measured gross domestic product since 2004—perhaps indicating workers are being paid to make products that are given away for free or at highly discounted prices—this trend actually began before the productivity slowdown and moreover reflects unusually high capital income rather than labor income (i.e., profits are unusually high). In combination, these complementary facets of evidence suggest that the reasonable prima facie case for the mismeasurement hypothesis faces real hurdles when confronted with the data.

The Economy Since 1970

2020 ◽  
Author(s):  
Judge Glock
Keyword(s):  
United States ◽  
The United States ◽  
2008 Financial Crisis ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
High Inflation ◽  
The 2008 Financial Crisis ◽  
Stable Growth ◽  
New Policies

Despite almost three decades of strong and stable growth after World War II, the US economy, like the economies of many developed nations, faced new headwinds and challenges after 1970. Although the United States eventually overcame many of them, and continues to be one of the most dynamic in the world, it could not recover its mid-century economic miracle of rapid and broad-based economic growth. There are three major ways the US economy changed in this period. First, the US economy endured and eventually conquered the problem of high inflation, even as it instituted new policies that prioritized price stability over the so-called “Keynesian” goal of full employment. Although these new policies led to over two decades of moderate inflation and stable growth, the 2008 financial crisis challenged the post-Keynesian consensus and led to new demands for government intervention in downturns. Second, the government’s overall influence on the economy increased dramatically. Although the government deregulated several sectors in the 1970s and 1980s, such as transportation and banking, it also created new types of social and environmental regulation that were more pervasive. And although it occasionally cut spending, on the whole government spending increased substantially in this period, until it reached about 35 percent of the economy. Third, the US economy became more open to the world, and it imported more manufactured goods, even as it became more based on “intangible” products and on services rather than on manufacturing. These shifts created new economic winners and losers. Some institutions that thrived in the older economy, such as unions, which once compromised over a third of the workforce, became shadows of their former selves. The new service economy also created more gains for highly educated workers and for investors in quickly growing businesses, while blue-collar workers’ wages stagnated, at least in relative terms. Most of the trends that affected the US economy in this period were long-standing and continued over decades. Major national and international crises in this period, from the end of the Cold War, to the first Gulf War in 1991, to the September 11 attacks of 2001, seemed to have only a mild or transient impact on the economy. Two events that were of lasting importance were, first, the United States leaving the gold standard in 1971, which led to high inflation in the short term and more stable monetary policy over the long term; and second, the 2008 financial crisis, which seemed to permanently decrease American economic output even while it increased political battles about the involvement of government in the economy. The US economy at the beginning of the third decade of the 21st century was richer than it had ever been, and remained in many respects the envy of the world. But widening income gaps meant many Americans felt left behind in this new economy, and led some to worry that the stability and predictability of the old economy had been lost.

Keynesianism and the Crisis

2013 ◽  
pp. 457-485
Author(s):  
Lance Taylor
Keyword(s):  
Interest Rates ◽  
The United States ◽  
Capital Inflows ◽  
Financial Assets ◽  
John Maynard Keynes ◽  
Debt Accumulation ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
Ample Supply

Historically, financial crises have been commonplace. Why did the latest episode almost derail the world economy? The macroeconomics developed by John Maynard Keynes and his close followers provides the only plausible set of answers, including rising income inequality that spilled over into debt accumulation at the same time as household consumption rose, low real interest rates, massive expansion of financial assets and liabilities as investors borrowed heavily (increased leverage) to buy assets with rising prices, and an ample supply of imports and capital inflows from the rest of the world to the United States. In an accommodating political economy environment these factors linked the real and financial sides of the US economy to create the crisis.

scholarly journals Global inequality and the Trump administration

2019 ◽  
Vol 45 (3) ◽  
pp. 502-510 ◽  
Author(s):  
Frederick W. Mayer ◽  
Nicola Phillips
Keyword(s):  
United States ◽  
Environmental Protection ◽  
Global Economy ◽  
The United States ◽  
Global Inequality ◽  
Welfare Provision ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
Trump Administration

AbstractSince US President Donald J. Trump took office in January 2017, the future of the global economy has looked distinctly uncertain. This is not because a process of clear and purposeful change can be said to be underway. Instead, it is because of a pattern of piecemeal, inconsistent and contradictory fragments of policy, both domestic and international in orientation, in the arenas of trade, taxation, business relations, finance and banking, social and welfare provision, immigration, and environmental protection, whose cumulative significance remains unclear. The modest task of this essay is therefore to sketch the contours, patterns, inconsistencies and confusions presented by the Trump administration's approach to shaping the US economy and, by extension, the global economic order, and on that basis to offer an interpretation of its emerging implications for inequality both within the United States and across the world.

The Employment Effects of the ‘New Economy’. A Comparison of the European Union and the United States

2003 ◽  
Vol 184 ◽  
pp. 86-98 ◽  
Author(s):  
Bart van Ark ◽  
Robert Inklaar ◽  
Robert H. McGuckin ◽  
Marcel P. Timmer
Keyword(s):  
United States ◽  
European Union ◽  
Productivity Growth ◽  
Service Sector ◽  
Employment Growth ◽  
Labour Productivity ◽  
New Economy ◽  
The United States ◽  
The European Union ◽  
The Us

This paper provides an analysis of the trends in labour productivity and employment growth at industry level in the European Union and the United States during the 1990s. We analyse relationships for groups of industries, i.e. industries that produce ICT products and services, those that invest strongly in ICT, and those that make less intensive use of ICT. The main findings are that the inverse relationship between employment and productivity growth has been much more prominent in manufacturing industries than in services industries. Secondly, during the 1990s, this relationship has turned positive in many industries, in particular in ICT-producing industries and in ICT-using industries in the service sector. Finally, the employment-reducing effects of productivity growth have remained considerably stronger in Europe than in the US.

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