Long-run trends in labor supply
考察劳动力供给的多个维度(如劳动参与率、工作周长度、非工作时间及人口结构)的趋势,发现近期这些方面均无显著增长,因此潜在GDP加速只能来自生产率提升。
The recent \\"benign\\" combination of strong output growth and low inflation has led to speculation that the potential growth rate of real GDP has increased. This paper examines trends in labor supply to see whether this source of GDP growth might have accelerated. Discussions of labor supply often focus on labor force participation. But other considerations--such as the length of the workweek, the amount of time spent away from work and the demographic structure of the population--also have been important in causing trend shifts in labor supply. My analysis suggests that no significant increase in the growth rate of any of these dimensions of labor supply is likely in the near future. So if potential GDP is to accelerate, this must come from faster productivity growth.