3 ms·
I'd be curious to see estimates of the US economy with different deflators over the last 50 years. In particular the last 20 years of campbell's price history
by lumost 6y ago
I'd be curious to see estimates of the US economy with different deflators over the last 50 years. In particular the last 20 years of campbell's price history would indicate some form of inflation that ran much faster than the CPI.
A reasonable resolution the the productivity/wage gap would be that productivity simply hasn't risen very much over the last 50 years, and apparent productivity/wage gaps are due to differences in how the GDP deflator is calculated.