Re: article on oil & dollars

[Daniel Davies <dsquared@xxxxxxxxxxxxxxxx>]

Jim do you have a reference for where Dean says this?  It looks like a very
important point, since one of the big things that happened around that time
was the introduction of hedonic adjustment in the computer industry, and
since it's always seemed to me that the flipside of what they were doing
with hedonic adjustment of the price of new computers would have to be a
reduction of the effective useful life of a computer.

best
dd

-----Original Message-----
From: PEN-L list [mailto:PEN-L@xxxxxxxxxxxxxxxx]On Behalf Of Devine,
James
Sent: 28 February 2005 04:29
To: PEN-L@xxxxxxxxxxxxxxxx
Subject: Re: article on oil & dollars


Dean Baker argues that US productivity growth has been exaggerated, since
depreciation also sped up. If you adjust for the latter, US productivity
growth doesn't look as good.