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Productivity and Economic Growth in U.S. Agriculture: A New Look[Note †. †The views expressed herein are those of the authors ...]
Author(s) -
Ball Eldon V,
Wang Sun L,
Nehring Richard,
Mosheim Roberto
Publication year - 2016
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1093/aepp/ppv031
Subject(s) - productivity , agriculture , economics , agricultural productivity , agricultural economics , production (economics) , growth accounting , total factor productivity , macroeconomics , geography , archaeology
It is widely reported that productivity growth is the main contributor to economic growth in U.S. agriculture. This article provides estimates of economic growth since World War II and decomposes that growth into the contributions of input growth and productivity growth. The analysis is based on recently revised production accounts, now spanning the 1948–2013 period. Our findings are fully consistent with those reported in the literature; productivity growth dominates input growth as a source of economic growth in the agricultural sector.