Investment-Specific Technology Growth Model and U.S. Productivity Estimates

Michael R. Pakko of the Federal Reserve Bank of St. Louis outlines a model of investment-specific technological change. The model is used to assess United States productivity trends, challenging traditional growth accounting techniques that focus on disembodied progress. The article summarizes recent estimates of the importance of capital-embodied technological progress.

Use Cases

• Modeling capital-embodied productivity growth based on the investment-specific technology change framework.
• Assessing U.S. productivity trends using estimates of investment-specific technological progress.
• Comparing traditional disembodied growth accounting with models that incorporate embodied technological change.

Strengths

• Authored by a researcher from the Federal Reserve Bank of St. Louis, suggesting institutional credibility.
• Focuses on a specific and influential economic model for analyzing productivity.

Limitations

• Column-level documentation is absent; field semantics must be inferred after download.
• Row count is unknown, which may limit suitability assessment.
• Last update date is unknown; freshness unverified.

Provenance

Source

Federal Reserve Bank of St. Louis

Collection Method

Theoretical modeling and summary of recent estimates, as described in an academic article.

Geography

United States