"Are all the problems in the U.S. economy nominal? Robert Gordon implicitly says no in a new paper on the long-run outlook for U.S. productivity (hat tip Reihan Salam). He makes the case that rapid productivity gains from 1995-2005 will not persist going forward:..."
at http://macromarketmusings.blogspot.com/2011/12/real-negative-real-shock.html
at http://macromarketmusings.blogspot.com/2011/12/real-negative-real-shock.html
