WorldCat Identities

Gordon, Robert J. (Robert James) 1940-

Overview
Works: 159 works in 891 publications in 2 languages and 11,696 library holdings
Genres: History  Conference papers and proceedings 
Roles: Author, Editor, Other
Classifications: HD6983, 339.420973
Publication Timeline
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Most widely held works about Robert J Gordon
 
Most widely held works by Robert J Gordon
The rise and fall of American growth : the U.S. standard of living since the Civil War by Robert J Gordon( Book )

14 editions published between 2016 and 2017 in English and held by 1,341 WorldCat member libraries worldwide

Examines the economic growth of the United States since the Civil War, arguing that the rate of growth between 1870 and 1970 cannot be repeated and that a number of issues are further stagnating the already slow rate of productivity growth
Milton Friedman's monetary framework : a debate with his critics by Milton Friedman( Book )

38 editions published between 1974 and 1990 in 3 languages and held by 1,064 WorldCat member libraries worldwide

In response to widespread interest in a formal complete statement analyzing aspects of the money-income relationship and clarification of his quantity theory, Milton Friedman in 1970 published "A Theoretical Framework for Monetary Analysis," and a year later "A Monetary Theory of Nominal Income," both in the Journal of Political Economy. A combined version of these essays, first published by the National Bureau of Economic Research, begins this volume. Because his statement was important and controversial both as a commentary on the history of economic thought and as a theoretical contribution in its own right, the Journal of Political Economy in 1972 presented critical reviews from noted monetary theorists, including Karl Brunner and Allan H. Meltzer, James Tobin, Paul Davidson, and Don Patinkin. Their studies, which are printed in the present volume, focus on substantive issues, covering a variety of topics. All of their major points are discussed in Friedman's reply, which clarifies and expands upon his original themes and introduces interesting new material. Thus the synthesis of his two articles, the critical comments, and his response, together with an introduction by Robert J. Gordon, are combined in one volume for the convenience of scholars and students
The American business cycle : continuity and change by Robert J Gordon( Book )

26 editions published between 1986 and 1990 in English and Undetermined and held by 757 WorldCat member libraries worldwide

In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter suggested are "like the beat of the heart, of the essence of the organism that displays them.". In The American Business Cycle, some of the most prominent macroeconomics in the United States focuses on the questions, To what extent are business cycles propelled by external shocks? How have post-1946 cycles differed
The measurement of durable goods prices by Robert J Gordon( Book )

19 editions published between 1974 and 1990 in English and held by 438 WorldCat member libraries worldwide

American business has recently been under fire, charged with inflated pricing and an inability to compete in the international marketplace. However, the evidence presented in this volume shows that the business community has been unfairly maligned?official measures of inflation and the standard of living have failed to account for progress in the quality of business equipment and consumer goods. Businesses have actually achieved higher productivity at lower prices, and new goods are lighter, faster, more energy efficient, and more reliable than their predecessors. Robert J. Gordon has written
The economics of new goods( Book )

14 editions published in 1997 in English and held by 438 WorldCat member libraries worldwide

New goods are at the heart of economic progress. But the value created by new goods must somehow be converted into an exact quantitative measure if official data on inflation, such as the Consumer Price Index, are to represent accurately the theoretical concept of a true "cost-of-living" index, and if official data are to capture the annual increase in output and productivity contributed by the invention of new goods as well as steady improvements in the quality of old goods. The eleven essays in this volume include historical treatments of new goods and their diffusion; practical exercises in measurement addressed to recent and ongoing innovations; and real-world methods of devising quantitative adjustments for quality change
Challenges to interdependent economies : the industrial West in the coming decade by Robert J Gordon( Book )

9 editions published between 1979 and 1980 in English and held by 436 WorldCat member libraries worldwide

Productivity growth, inflation, and unemployment : the collected essays of Robert J. Gordon by Robert J Gordon( Book )

18 editions published between 2003 and 2004 in English and held by 311 WorldCat member libraries worldwide

This collection is unique not only in the importance of its topics and conclusions, but in the novelty of its five newly written introductions, one for the entire book and four new introductions to the separate parts of the book. Each introduction goes beyond summarizing the contribution of the individual essays, setting them in the context of past and current macroeconomic debates and tracing the origins of the ideas and their subsequent evolution
International volatility and economic growth : the first ten years of the International Seminar on Macroeconomics by International Seminar on Macroeconomics( Book )

10 editions published in 1991 in English and held by 164 WorldCat member libraries worldwide

The aftermath of the 1992 ERM breakup : was there a macroeconomic free lunch? by Robert J Gordon( Book )

22 editions published between 1998 and 1999 in English and held by 94 WorldCat member libraries worldwide

This paper examines the macroeconomic aftermath of the 1992 breakdown of the European Exchange Rate Mechanism (ERM). The economic performance of six leaver' nations is compared with five stayer' nations that maintained a roughly fixed parity with the Deutsche Mark. Recent writing about post-1992, which I call the conventional wisdom, ' reports that a surprising miracle occurred the leaver nations are alleged to have enjoyed a burst of real growth and a decline in unemployment, all without any evidence of extra inflation. The results in this paper turn the conventional wisdom on its head. While the leaver nations experienced an acceleration of nominal GDP growth relative to the stayers, fully 80 percent of this spilled over into extra inflation, leaving only 20 percent remaining for extra real GDP growth. Virtually 100 percent of the nominal exchange rate depreciation passed through into higher import prices, and extra inflation would have been even more pronounced if it were not for quiescent wage rates, which the paper attributes to high unemployment. The absence of any significant stimulus to real output growth is attributed to fiscal tightening under pressure from the Maastricht criteria, which offset nearly all of the stimulus coming from the improved current account of the leaver nations
The Boskin Commission report and its aftermath by Robert J Gordon( Book )

20 editions published between 1999 and 2000 in English and held by 93 WorldCat member libraries worldwide

This paper briefly summarizes the analysis and findings of the 1996 Boskin Commission Report, Toward a More Accurate Measure of the Cost of Living. It then reviews the comments and criticisms that appeared soon after the Report was issued and provides responses to the more important criticisms. Changes in the CPI, both those that were planned before the Report and those that were in part a response to its recommendations, are summarized and assessed. The paper concludes with a summary of recent research on quality change and comments on the current status of the CPI and of price measurement research. Including those improvements that the BLS has announced for implementation in 2000-2002, the paper estimates that the current upward bias in the CPI is in the range of 0.65 percent, down from the 1.1 percent that the Report estimated applied to the period 1995-96
Macroeconomic policy in the presence of structural maladjustment by Robert J Gordon( Book )

21 editions published between 1995 and 1996 in English and held by 92 WorldCat member libraries worldwide

This paper analyzes two-way interactions between structural reform and macro policy. If structural reforms increase the flexibility of labor markets, they are likely to improve the short-run inflation-unemployment tradeoff, providing an incentive for policymakers to expand aggregate demand. Also, policymakers' promises that they will encourage a decline in unemployment in response to good news on inflation can be used to strike a political deal with interests opposed to the introduction or extension of structural reform. Expansionary monetary policy also gives relief on the fiscal front by bringing the actual budget deficit closer to the structural budget deficit, and indirectly, by encouraging structural reform, potentially reducing the structural budget deficit itself. In 1992-93 several European countries dropped out of the ERM to pursue more expansionary monetary policies. The difference in the results of these countries and those countries which maintained a peg between their currencies and the Deutschemark provides a test case of the consequences of expansionary monetary policy. The depreciating nations by 1995 enjoyed a relative acceleration of nominal GDP and an even greater deceleration of inflation, so that their growth rate of real GDP accelerated more than their growth rate of nominal GDP in relation to the pegging countries. The continued deceleration of inflation in the depreciating countries provides evidence that their natural unemployment rate has declined and that expansionary monetary policy has interacted beneficially with structural reform
The time-varying NAIRU and its implications for economic policy by Robert J Gordon( Book )

20 editions published between 1996 and 1997 in English and held by 91 WorldCat member libraries worldwide

This paper estimates the NAIRU (standing for the Non-Accelerating Inflation Rate of Unemployment) as a parameter that varies over time. The NAIRU is the unemployment rate that is consistent with a constant rate of inflation. Its value is determined in an econometric model in which the inflation rate depends on its own past values (inertia), demand shocks proxied by the difference between the actual unemployment rate and the estimated NAIRU, and a set of supply shock variables. The estimated NAIRU for the U.S. economy differs somewhat for alternative measures of the inflation rate. The NAIRU estimated for the GDP deflator varies over the past forty years within the narrow range of 5.7 to 6.4 percent; its estimated value for the most recent quarter (1996:Q1) is 5.7 percent. In that quarter a lower NAIRU of 5.3 percent is obtained for the chain-weighted PCE deflator. Recent research claiming that there is a three-percentage-point range of uncertainty about the NAIRU is rejected as inconsistent with the behavior of the American economy in the late 1980s and early 1990s
Does the "new economy" measure up to the great inventions of the past? by Robert J Gordon( Book )

21 editions published in 2000 in English and held by 89 WorldCat member libraries worldwide

During the four years 1995-99 U.S. productivity growth experienced a strong revival and achieved growth rates exceeding that of the golden age' of 1913-72. Accordingly many observers have declared the New Economy' (the Internet and the accompanying acceleration of technical change in computers and telecommunications) to be an Industrial Revolution equal in importance, or even more important, than the Second Industrial Revolution of 1860-1900 which gave us electricity, motor and air transport, motion pictures, radio, indoor plumbing, and made the golden age of productivity growth possible. This paper raises doubts about the validity of this comparison with the Great Inventions of the past. It dissects the recent productivity revival and separates the revival of 1.35 percentage points (comparing 1995-99 with 1972-95) into 0.54 of an unsustainable cyclical effect and 0.81 points of acceleration in trend growth. The entire trend acceleration is attributed to faster multi-factor productivity (MFP) growth in the durable manufacturing sector, consisting of computers, peripherals, telecommunications, and other types of durables. There is no revival of productivity growth in the 88 percent of the private economy lying outside of durables; in fact when the contribution of massive investment in computers in the nondurable economy is subtracted, MFP growth outside of durables has actually decelerated. The paper combines the Great Inventions of 1860-1900 into five clusters' and shows how their development and diffusion in the first half of the 20th century created a fundamental transformation in the American standard of living from the bad old days of the late 19th century. In comparison, computers and the Internet fall short. The rapid decline in the cost of computer power means that the marginal utility of computer characteristics like speed and memory has fallen rapidly as well, implying that the greatest contributions of computers lie in the past, not in the future. The Internet fails the hurdle test
Is there a tradeoff between unemployment and productivity growth? by Robert J Gordon( Book )

18 editions published between 1995 and 1998 in English and held by 85 WorldCat member libraries worldwide

This paper shows how misleading is the facile contrast of Europe following a path of high productivity growth, high unemployment, and relatively greater income equality, in contrast to the opposite path being pursued by the United States. While structural shocks may initially create a positive tradeoff between productivity and unemployment, they set in motion a dynamic path of adjustment involving capital accumulation or decumulation that in principle can eliminate the tradeoff. The main theoretical contributions of this paper are to show how a productivity-unemployment tradeoff might emerge and how it might subsequently disappear as this dynamic adjustment path is set in motion. Its empirical work develops a new data base for levels and growth rates of output per hour, capital per hour, and multifactor productivity in the G-7 nations both for the aggregate economy and for nine sub-sectors. It provides regression estimates that decompose observed differences in productivity growth across sectors. It finds that much of the productivity growth advantage of the four large European countries over the United States is explained by convergence and by more rapid capital accumulation, and that the only significant effect of higher unemployment is to cause capital accumulation to decelerate, thus reducing the growth rate of output per hour relative to multi-factor productivity
Interpreting the "one big wave" in U.S. long term productivity growth by Robert J Gordon( Book )

25 editions published in 2000 in English and held by 84 WorldCat member libraries worldwide

"This paper assesses the standard data on output, labor input, and capital input, which imply "one big wave" in multi-factor productivity (MFP) growth for the United States since 1870. The wave-like pattern starts with slow MFP growth in the late 19th century, then an acceleration peaking in 1928-50, and then a deceleration to a slow rate after 1972 that returns to the poor performance of 1870-1891. A counterpart of the standard data is a mysterious doubling in the ration of output to capital input when the postwar era is compared with 1870-1929 ..."--Abstract
Technology and economic performance in the American economy by Robert J Gordon( Book )

21 editions published in 2002 in English and held by 75 WorldCat member libraries worldwide

This paper examines the sources of the U.S. macroeconomic miracle of 1995-2000 and attempts to distinguish among permanent sources of American leadership in high-technology industries, as contrasted with the particular post-1995 episode of technological acceleration, and with other independent sources of the economic miracle unrelated to technology. The core of the American achievement was the maintenance of low inflation in the presence of a decline in the unemployment rate to the lowest level reached in three decades. The post-1995 technological acceleration, particularly in information technology (IT) and accompanying revival of productivity growth, directly contributed both to faster output growth and to holding down the inflation rate, but inflation was also held down by a substantial decline in real non-oil import prices, by low energy prices through early 1999, and by a temporary cessation in 1996-98 of inflation in real medical care prices. In turn low inflation allowed the Fed to maintain an easy monetary policy that fueled rapid growth in real demand, profits, and stock prices, which fed back into growth of consumption in excess of growth in income. The technological acceleration was made possible in part by permanent sources of American advantage over Europe and Japan, most notably the mixed system of government- and privately-funded research universities, the large role of U.S. government agencies providing research funding based on peer review, the strong tradition of patent and securities regulation, the leading worldwide position of U.S. business schools and U.S.-owned investment banking, accounting, and management-consulting firms, and the particular importance of the capital market for high-tech financing led by a uniquely dynamic venture capital industry. While these advantages help to explain why the IT boom happened in the United States, they did not prevent the U.S. from experiencing a dismal period of slow productivity growth between 1972 and 1995 nor from falling beh
Two centuries of economic growth : Europe chasing the American frontier by Robert J Gordon( Book )

17 editions published between 2002 and 2004 in English and held by 60 WorldCat member libraries worldwide

Starting from the same level of productivity and per-capita income as the United States in the mid-nineteenth century, Europe fell behind steadily to a level of barely half in 1950, and then began a rapid catch-up. While Europe's level of productivity has almost converged, its income per person has leveled off at about three-quarters of America's. How could Europe be so productive yet so poor? The simple answer is that hours per person in Europe have fallen drastically in the past 40 years, reflecting long vacations, high unemployment, and low labor force participation, and only about one-third of the Europe-America difference reflects voluntarily chosen leisure. The paper contains a welfare analysis of the difference and argues that conventional national income data overstate the advantage of America over Europe, and that Europe's welfare is about 8 percent below the American level rather than the 25 percent implied by a comparison of measured income per capita. A historical analysis traces Europe's falling behind after 1870 to American political unity, fostering large-scale material-intensive manufacturing and a set of marketing innovations to a set of additional advantages that would not have been possessed even if Europe had hypothetically created a United States of Europe in 1870. After 1913 the U. S. surged further ahead, due to its early exploitation of the great inventions of electricity and the internal combustion engine, while Europe was distracted by wars and interwar economic chaos. After 1950 Europe's catch up was achieved both by exploiting the great inventions 40 years late, and also by the gradual erosion of early American advantages. But after 1995 the gap began to widen again, a development that brings to the forefront fundamental American advantages in fostering and exploiting innovation
Why was Europe left at the station when America's productivity locomotive departed? by Robert J Gordon( Book )

16 editions published in 2004 in English and held by 59 WorldCat member libraries worldwide

After fifty years of catching up to the United States level of productivity, since 1995 Europe has been falling behind. The growth rate in output per hour over 1995-2003 in Europe was just half that in the United States, and this annual growth shortfall caused the level of European productivity to fall back from 94 percent of the United States level to 85 percent. Fully one-fifth of the European catch-up (from 44 to 94 percent) over the previous half-century has been lost over the period since 1995. Disaggregated studies of industrial sectors suggest that the main difference between Europe and the United States is in ICT-using industries like wholesale and retail trade and in securities trading. The contrast in retailing calls attention to regulatory barriers and land-use regulations in Europe that inhibit the development of the big box retailing formats that have created many of the productivity gains in the United States. For many decades, the United States and Europe have gone in opposite directions in the public policies relevant for metropolitan growth. The United States has promoted highly dispersed low-density metropolitan areas through its policies of building intra-urban highways, starving public transit, providing tax subsidies to home ownership, and allowing local governments to maintain low density by maintaining minimum residential lot sizes. Europeans have chosen different policies that encourage high-density residential living and retail precincts in the central city while inhibiting the exploitation of greenfield suburban and exurban sites suitable for modern big box retail developments. The middle part of the paper draws on recent writing by Phelps: economic dynamism is promoted by policies that promote competition and flexible equity finance and is retarded by corporatist institutions designed to protect incumbent producers and inhibit new entry. European cultural attributes inhibit the development of ambition and independence by teena
Hi-tech innovation and productivity growth : does supply create its own demand? by Robert J Gordon( Book )

11 editions published in 2003 in English and held by 57 WorldCat member libraries worldwide

This paper argues that the late 1990s boom in ICT investment was unsustainable for both macro and micro reasons; we are unlikely again to witness an interval in which computer hardware investment grows at an annual rate greater than 30 percent for five straight years. Analysts who base their optimism on the role of Moore's Law in creating endless exponential growth of computer power neglect the need for an equally rapid explosion in the demand for computer power. Simply put, this paper argues that supply does not create its own demand. Yet a failure of ICT investment to revive to the ebullient growth performance of the late 1990s does not doom productivity growth to slip back to the dismal pre-1995 era. Instead, we argue that conventional analyses have exaggerated the contribution of ICT investment to the post-1995 productivity performance. Productivity can continue to grow at respectable rates even if ICT investment continues to slump. While accepting the contribution of ICT production to economy-wide productivity growth, the paper cites four reasons to suspect that standard analyses have exaggerated the contribution of ICT use, the so-called capital deepening' effect. First, these analyses unrealistically assume that the productivity payoff of computer use is instantaneous upon installation. Second, recent research indicates that the strong revival of productivity growth in retail trade occurred for reasons other than ICT use. Third, differential productivity growth across states in the U.S. appears to be related to ICT production but not to ICT use. Fourth, retailers in Europe use the same ICT equipment as in the U.S. yet have failed to enjoy a productivity revival, again indicating that factors other than ICT use are central
Where did the productivity growth go? : inflation dynamics and the distribution of income by Ian Dew-Becker( Book )

15 editions published between 2005 and 2006 in English and held by 48 WorldCat member libraries worldwide

Abstract: In addition to its micro analysis, this paper also asks whether faster productivity growth reduces inflation, raises nominal wage growth, or raises profits. We find that an acceleration or deceleration of the productivity growth trend alters the inflation rate by at least one-for-one in the opposite direction. This paper revives research on wage adjustment and produces a dynamic interactive model of price and wage adjustment that explains movements of labor's share of income
 
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Milton Friedman's monetary framework : a debate with his critics
Alternative Names
Gordon, Robert 1940-

Gordon, Robert J.

Gordon, Robert J., 1940-

Gordon, Robert James.

Gordon, Robert James 1940-

Robert J. Gordon Amerikaans econoom

Роберт Гордон

رابرت گردون

로버트 고든(Robert Gordon)

ゴードン, ロバート・J

ロバート・J・ゴードン

罗伯特·戈登

Languages
English (366)

Spanish (6)

Covers
The American business cycle : continuity and changeThe measurement of durable goods pricesThe economics of new goodsProductivity growth, inflation, and unemployment : the collected essays of Robert J. Gordon