Zvi Griliches, a world-renowned scholar and a pioneer in the field
of productivity growth, has compiled in a single volume his
path-breaking work on research and development (R&D) and
productivity. Griliches addresses the relationship between R&D
and productivity, one of the most complex yet vital issues in
today's business world. Using econometric techniques, he
establishes this connection and measures its magnitude for firm-,
industry-, and economy-level data. Several of these papers
incorporate French and Japanese productivity data to provide a
comparative perspective, and one new paper outlines future
directions for productivity research. A comprehensive introduction
puts the papers in the context of Griliches's distinguished body of
work.
Griliches began his studies of productivity growth during the
1950s, adding a variable of "knowledge stock" to traditional
production function models, and his work has served as the point of
departure for much of the research into R&D and productivity.
This collection of essays documents both Griliches's distinguished
career and the history of this line of thought.
As inputs into production increasingly take the form of
"intellectual capital" and new technologies that are not as easily
measured as traditional labor and capital, the methods Griliches
has refined and applied to R&D become crucial to understanding
today's economy.
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