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Economic Commentary

How Much of Economic Growth Is Fueled by Investment-Specific Technological Progress?

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Gross domestic product today is only modestly bigger than it was 100 years ago, at least if it’s measured in tons! While this may seem an absurd way to measure GDP, the point is that how economic variables are measured is important.

03.01.1999ISSN 2163-3738 EC 3/1/1999

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Gort, Michael, Jeremy Greenwood, and Peter Rupert. 1999. “How Much of Economic Growth Is Fueled by Investment-Specific Technological Progress?” Federal Reserve Bank of Cleveland, Economic Commentary 3/1/1999.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International