Nordhaus, William - In: Contributions to Macroeconomics 8 (2008) 1, pp. 1382-1382
William Baumol and his co-authors have analyzed the impact of differential productivity growth on the health of … and price increases, take a rising share of national output, and slow aggregate productivity growth. Using industry data … have tended to lower overall productivity growth as the share of stagnant sectors has risen over the second half of the …