In this paper, we show that the substitution of imported for domestically produced goods and services—often known as offshoring—can lead to overestimates of U.S. productivity growth and value added. We explore how the measurement of productivity and value added in manufacturing has been...

When I was a graduate student, I discovered that the <em>Journal of Economic Perspectives</em> embodied much of what I love about the field of economics: the clarity that pierces rhetoric to seek the core of a question; the rigor to identify the causal relationships, tradeoffs, and indeterminancies...