Effects of Terms of Trade Gains and Tariff Changes on the Measurement of U.S. Productivity Growth
NBER Working Paper No. 15592
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We are grateful for Mike Harper’s assistance with the analysis of the productivity measurement implications. We draw heavily upon Alterman, Diewert and Feenstra (1999), and the authors are indebted to Bill Alterman and Erwin Diewert for that earlier study which we apply here to U.S. productivity growth. For helpful comments we thank seminar participants at Columbia, Harvard, Oxford, and the NBER. For financial support Feenstra and Slaughter thank the National Science Foundation. Finally, the views expressed in this paper are those of the authors, not those of the Bureau of Economic Analysis, and should not be interpreted as reflecting the views of the Board of Governors of the Federal Reserve System or of any other person associated with the Federal Reserve System. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.