Zvi Griliches, a world-renowned pioneer in the field of
productivity growth, has compiled in a single volume his
pathbreaking research on R&D and productivity. Griliches
addresses the relationship between research and development
(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. 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 as well as the history of
this line of thought. As inputs into production increasingly taking
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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