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Jorgenson, Dale. 2001. “Information Technology and the US Economy.” The American Economic Review. Vol 91 (No. 1). 1-32. March. Jorgenson, Dale, Mun Ho, and Jon Samuels. 2012. “Information Technology and U.S. Productivity Growth.” Industrial Productivity in Europe, 35-64. Northampton MA: Edward Elgar. Jorgenson, Dale W. 1988. “Productivity and Postwar U.S. Economic Growth.” Journal of Economic Perspectives.” 2(4): 23-41. Juhn, Chinhui, Kevin M. Murphy, and Brooks Pierce. 1993. “Wage Inequality and the Rise in Returns to Skill.” Journal of Political Economy 101(3), 410–442. Kahn, James and Robert Rich. 2011. “The Productivity Slowdown Reaffirmed.” Federal Reserve Bank of New York. Katz, Lawrence F. and Kevin M. Murphy. 1992. “Changed in Relative Wages, 1963-1987: Supply and Demand Factors.” The Quarterly Journal of Economics 107, no. 1: 35-78. Klein, Judith L.V., and William N. Parker. 1966. “Productivity Growth in Grain Production in the United States, 1840-60 and 1900-10.” Working Paper 523-582. Cambridge, MA: National Bureau of Economic Research. Krueger, Alan B. 1993. “How Computers Have Changed the Wage Structure: Evidence from Microdata, 1984-1989.” The Quarterly Journal of Economics 108, no. 1: 33-60. Kwerel, Evan R. and Gregory L. Rosston. 2000. “An Insiders’ View of FCC Spectrum Auctions,” Journal of Regulatory Economics 17: 253-289. Lee, David. 1999. “Wage Inequality in the United States during the 1980s: Rising Dispersion or Falling Minimum Wage” Quarterly Journal of Economics. 114(3), 977–1023. Lemieux, Thomas. 2008. “The Changing Nature of Wage Inequality.” Journal of Population Economics 21, no. 1: 21-48. _____. 2006. “Post-Secondary Education and Increasing Wage Inequality,” American Economic Review 96(2), 195–99. Lemley, Mark A., and Carl Shapiro. 2005. “Probabilistic Patents.” Journal of Economic Perspectives 19, no.2 (Spring): 75-98. Mateyka, Peter J., and Melanie A. Rapino. 2012. “Home-Based Workers in the United States: 2010.” Household Economic Studies, U.S. Census Bureau (October): 1-32. References | 325
Mishel, Lawrence, Heidi Shierholz, and John Schmitt. 2013. “Don’t Blame the Robots: Assessing the Job Polarization Explanation of Growing Wage Inequality.” Washington: Economic Policy Institute. National Science Foundation. 2013. National Patterns of R&D Resources: 2010-11 Update. National Telecommunications and information Administration. 2013. National Broadband Map. “US Broadband Availability Data.” Nelson, Richard, R. 1959. “The Simple Economics of Basic Scientific Research.” Journal of Political Economy 297. 727-736. Noonan, Mary C. and Jennifer L. Glass. 2012. “The hard truth about telecommuting.” Monthly Labor Review, Statistics (June): 38-45. U.S. Bureau of Labor Statistics. Nordhaus, William. 2004. “Retrospective on the Postwar Productivity Slowdown.” Cowles Foundation Discussion Paper No. 494. Cambridge, MA: National Bureau of Economic Research. Office of Science and Technology Policy and the National Economic Council. 2013. “Four Years of Broadband Growth.” The White House. (June). Oliner, Sichel. And Stiroh, 2007. “Explaining a Productive Decade,” Finance and Economics Discussion Series 2007-63, Board of Governors of the Federal Reserve System. Pham, Duc Truong, and Paulette Pham. 2009. “FIT Manufacturing: Linking manufacturing, marketing and product innovation strategies to achieve long term economic sustainability.” Wales, UK: Cardiff University. Piketty, Thomas and Emmanuel Saez. 2003. “Income Inequality in the United States, 1919 1998.” The Quarterly Journal of Economics118, no. 1: 1-39. _____. 2006. “The Evolution of Top Incomes: A Historical and International Perspective.” Working Paper 11955. Cambridge, Mass: national Bureau of Economic Research (January). Presidential Memorandum. 2010. “Unleashing the Broadband Wireless Revolution.” June 10. President’s Council of Advisors on Science and Technology. 2012. Report to the President: Realizing the Full Potential of Government-Held Spectrum to Spur Economic Growth. The White House. Rodrik, Dani, Arvind Subramanian, and Francesco Trebbi. 2004. “Institutions Rule: The Primacy of Institutions Over Geography and 326 | References
Page 1 and 2:
ECONOMIC REPORT OF THE PRESIDENT To
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C O N T E N T S ECONOMIC REPORT OF
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economic report of the president To
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year-old. In the meantime, I’m go
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the annual report of the council of
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C O N T E N T S CHAPTER 1. PROMOTIN
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APPENDIX 1: COMPONENTS OF THE RECOV
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THE OBAMA ADMINISTRATION’S RECORD
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2.15. Housing Starts, 1960-2013....
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3.1. Forecasted and Actual Real GDP
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C H A P T E R 1 PROMOTING OPPORTUNI
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Opportunity, Growth, and Security i
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crisis—continue to rebound and co
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Figure 1-4 Real GDP Per Working-Age
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Figure 1-6 Change in Poverty Rate F
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Figure 1-7 Domestic Crude Oil Produ
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Figure 1-8 Growth in Real Per Capit
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Figure 1-9 Unemployment Rate by Dur
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e needed to make up for a decades-l
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Annual percent change 2.50 15-year
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Figure 1-14 Share of National Incom
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Along with steps that create jobs,
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corner, with purchases increasing d
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the four quarters of 2013, or enoug
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Percent of GDP 12 10 8 6 4 2 0 -2 -
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Percent 5.0 4.0 3.0 2.0 Figure 2-3
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In the euro area, the unemployment
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Figure 2-6 Cumulative Flows into Mu
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Figure 2-7 Household Deleveraging,
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Box 2-1: The 2013 Comprehensive Rev
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Percent 25 20 15 10 5 0 -5 Figure 2
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Figure 2-11 State and Local Pension
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Percent of GDP 2 1 0 Figure 2-14 Cu
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Box 2-2. Administration Trade Polic
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Upon completion, the TPP and T-TIP
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percent of households report that i
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Figure 2-18 Petroleum Net Imports,
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Figure 2-21 U.S. Per Capita Consump
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Percent 11 Figure 2-22 Unemployment
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Figure 2-25 Predicted vs. Actual Ma
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Box 2-4: Unemployment Duration and
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The Long-Term Outlook The 11-Year F
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Growth in GDP over the Long Term As
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Box 2-5: Immigration Reform and Pot
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Even with this growth, however, the
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families. The other half was for in
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ecause of rapidly declining stock a
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Obama Administration and the 111th
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Figure 3-1 Recovery Act Programs by
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other cases, new measures expanded
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Figure 3-2 Recovery Act and Subsequ
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Box 3-1: Other Administration Polic
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challenges, and how economists have
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Table 3-5 Estimated Output Multipli
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Figure 3-7 Quarterly Effect of the
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Table 3-6 Estimates of the Effects
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International Comparison The 2008 c
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Box 3-2: The U.S. Recovery in Compa
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Table 3-7 Tax Relief and Income Sup
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traditionally been jointly financed
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downturn in the economy. Even thoug
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Figure 3-11 Recovery Act Cumulative
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The Recovery Act also invested in r
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helped individuals who chose to ret
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the period, even though total power
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average—then the resulting increa
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Alternative Minimum Tax relief, bus
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Through the end of a Individual Tax
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y Poterba (1994), states and locali
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Table 3-11 Fiscal Support for the E
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spells. Because the resulting unemp
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literature uses two different appro
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Table 3-12 Summary of Cross-Section
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the CMS projections show real per-c
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will accrue to workers as higher wa
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Box 4-1: Two Measures of Growth in
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Figure 4-1 Growth in Real Per Capit
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in particular may not exactly track
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find that even those seniors who di
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the slowdown in real (that is, infl
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health care costs for an individual
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estimate for the ACA found that its
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Figure 4-4 Medicare 30-Day, All-Con
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agreements among the providers them
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payment for physician services, the
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Box 4-3: The Cost Slowdown and ACA
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2010a; 2011; 2012c; 2013a; 2014), w
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Figure 4-6 Recent CBO Projections o
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Conclusion The evidence is clear th
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facilitated this private-sector tec
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esulting gap between the actual gro
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Table 5-1 Sources of Productivity I
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Table 5-2 Nonfarm Private Business
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of the productivity improvement res
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Figure 5-3 Growth in Productivity a
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improving and college completion ra
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Box 5-2: Does Inequality Affect Pro
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Percent 3.5 Figure 5-5 Composition
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• Just two of the largest U.S. te
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Box 5-3: Just-in-Time Manufacturing
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Figure 5-7 Exclusive and Shared All
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Box 5-4: Spectrum Investment Polici
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To stimulate investment in more adv
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Because current uses of technology
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Box 5-5: Electronic Health Records
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about the array of services and sup
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and, in such cases, provides partie
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Box 5-6: The Leahy-Smith America In
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Box 5-7: Pay-For-Delay Settlements
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C H A P T E R 6 THE WAR ON POVERTY
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Measuring Poverty: Who is Poor in A
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thresholds ever since. These dollar
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of necessary items, including food,
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Table 6-1 Poverty Rates by Selected
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Box 6-3: Women and Poverty While wo
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However, this reflects smaller decl
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Percent 25 Figure 6-1 Trends in the
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Box 6-4: Social Programs Serve All
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of low- and middle-income workers a
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particularly valuable since they es
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Figure 6-4 Official vs Anchored Sup
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deep market poverty driven by the b
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work: in 2010, for example, unemplo
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out of poverty through job training
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e noted that researchers have found
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2012). Among the children of low-ea
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Education appears to be one of the
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Friedman, and Rockoff (2011) find t
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including an additional $25 a week
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Figure 6-11 Recovery Act and Subseq
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Empowering Every Child with a Quali
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modernize America’s high schools
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low-income Americans and their chil
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C H A P T E R 7 EVALUATION AS A TOO
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program evaluation efforts. For exa
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went to preschool would have had if
Page 280 and 281: y adopting successful interventions
Page 282 and 283: Box 7-2: Using Behavioral Economics
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Page 286 and 287: Figure 7-1 Outlays for Grants to St
Page 288 and 289: performance data, fewer than half o
Page 290 and 291: Investment Act programs. The PROMIS
Page 292 and 293: Figure 7-2 Inventory of Beds for Ho
Page 294 and 295: example, included a nondiscretionar
Page 296 and 297: Other benefits of considering evalu
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Page 300 and 301: unemployment insurance wage and ben
Page 302 and 303: hard for researchers to access for
Page 304 and 305: REFERENCES Chapter 1 Almunia, Migue
Page 306 and 307: ____. 2014. “Press Release: Janua
Page 308 and 309: and the TPP at the Peterson Institu
Page 310 and 311: Increase Employment Evidence from t
Page 312 and 313: ___. 2010b. “The Economic Impact
Page 314 and 315: ___. 2012. World Economic Outlook A
Page 316 and 317: Polak Annual Research Conference. W
Page 318 and 319: Baicker, Katherine and Amitabh Chan
Page 320 and 321: Daly, Mary, Bart Hobijn, and Brian
Page 322 and 323: Nominal Wages,” International Jou
Page 324 and 325: Learning: A Meta-Analysis and Revie
Page 326 and 327: Chien, Colleen V. 2012. “Reformin
Page 328 and 329: GAO (Government Accountability Offi
Page 332 and 333: Integration in Economic Development
Page 334 and 335: _____. 2007. “Improving the Safet
Page 336 and 337: Dahl, Gordon B. and Lance Lochner.
Page 338 and 339: Heckman, James J. and Dimitriy V. M
Page 340 and 341: Ludwig, Jens and Douglas Miller. 20
Page 342 and 343: Sharkey, Patrick. 2009. “Neighbor
Page 344 and 345: _____. 2013. “Practical Evaluatio
Page 346 and 347: www.nij.gov/topics/corrections/comm
Page 348: Stock, James H., and Mark Watson. 2
Page 352 and 353: letter of transmittal Council of Ec
Page 354: Council Members and Their Dates of
Page 357 and 358: The Members of the Council Betsey S
Page 359 and 360: Act has had on reducing health care
Page 361 and 362: Statistical Office The Statistical
Page 364: A P P E N D I X B STATISTICAL TABLE
Page 367 and 368: INTEREST RATES, MONEY STOCK, AND GO
Page 369 and 370: 2013-to-2014 TABLE NUMBER MATCH 201
Page 371 and 372: Year or quarter Table B-1. Percent
Page 373 and 374: Table B-2. Gross domestic product,
Page 375 and 376: Table B-3. Quantity and price index
Page 377 and 378: Table B-5. Real exports and imports
Page 379 and 380: Year Total 2 Table B-7. Real farm i
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Table B-9. Median money income (in
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Year or month Civilian noninstituti
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Year or month All civilian workers
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Table B-14. Employees on nonagricul
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Table B-15. Hours and earnings in p
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Year and month Interest Rates, Mone
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Year and month Table B-18. Money st
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Table B-20. Federal receipts, outla
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Table B-22. Federal receipts, outla
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Table B-24. State and local governm
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End of month Table B-26. Estimated
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B-7. Chain-type price indexes for g
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B-28. National income by type of in
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B-48. Employment cost index, privat
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B-65. Producer price indexes by sta
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B-81. Federal receipts, outlays, su
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B-99. Farm output and productivity
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B-111. International reserves Inter
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