Measuring consumption: the post-1973 slowdown and the research issues.

From: Federal Reserve Bank of St. Louis Review | Date: May 1, 1997| Author: Triplett, Jack E. | Copyright information

Economic growth slowed down after 1973 in terms of real per capita consumption, real compensation and industrial productivity. However, measurement procedures for the price indexes used for deflation were found flawed, leading to statistical errors in the presentation of real per capita consumption data. Meanwhile, it is not certain that the errors led to the understatement of real consumption growth rates.

536810 INO What happened to U.S. economic growth after 1973? Before 1973, p...

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