ÉVOLUTION TENDANCIELLE DE LA TECHNIQUE AUX ÉTATS-UNIS DEPUIS LA GUERRE DE SÉCESSION
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SECULAR TRENDS IN TECHNOLOGY IN THE U.S. ECONOMY SINCE THE CIVIL WAR
This study analyzes the transformation of technology in the U.S. economy since the Civil War, by fitting a production function for the period 1869-1985. The estimated production function distinguishes structures and equipment within the stock of fixed capital. The substitution of capital for labor is restricted to equipment and modeled by a C.E.S. function. The profile of multifactor productivity is analyzed as the combination of an exponential growth and a logistic curve with a maximum slope during World War II. Concerning inducement, the best econometric results are obtained for the labor cost. The study also sheds some light on the productivity slowdown since the mid-1960s, which could be related to the slowdown in the growth rate of labor costs.
G. Duménil, D. Lévy, "Secular Trends in Technology in the U.S. Economy since the Civil War", 1991, STI Review, O.E.C.D., num. 8, pp. 123-164.