From the Inside Flap
Zvi Griliches, a world-renowned scholar and a pioneer in the field of productivity growth, has compiled in a single volume his path-breaking work on research and development (R&D) and productivity. Griliches addresses the relationship between 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. Several of these papers incorporate French and Japanese productivity data to provide a comparative perspective, and one new paper outlines future directions for productivity research. A comprehensive introduction puts the papers in the context of Griliches's distinguished body of work.
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 and the history of this line of thought.
As inputs into production increasingly take 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.
About the Author
Zvi Griliches is the Paul M. Warburg Professor of Economics at Harvard University and director of the Productivity and Technical Change program at the National Bureau of Economic Research. He is past president of the Econometric Society and of the American Economic Association and a member of the National Academy of Sciences.