description Dale Jorgenson Overview
Dale W. Jorgenson is a prominent American economist and the Samuel W. Morris University Professor at Harvard University. He is widely recognized for his foundational contributions to understanding economic growth, particularly through the development of the growth accounting framework.
Jorgenson pioneered rigorous econometric methods for measuring capital input and total factor productivity, helping to accurately quantify the role of technology in economic expansion. His work has profoundly influenced how national statistical agencies measure productivity and formulate economic policy.
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Dale Jorgenson ranks #135 of 253 in the Economist ranking, behind Lawrence Katz, ahead of Steven Berry.
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What is Dale Jorgenson's most famous contribution to economics?
Dale W. Jorgenson is widely recognized for his foundational contributions to understanding economic growth, particularly the development of growth accounting frameworks. He also formulated the neoclassical theory of investment, modeling how firms decide to purchase capital goods.
Where is Dale Jorgenson a professor?
Jorgenson is the Samuel W. Morris University Professor at Harvard University. He has been a highly prominent faculty member at Harvard's economics department since the late 1960s.
What is the Jorgenson cost of capital?
Introduced in a prominent 1963 paper, Jorgenson's cost of capital is a model that determines the optimal time for a firm to invest in new equipment. It combines interest rates, depreciation, and tax policies to establish a unified "user cost" of capital.
How did Dale Jorgenson view the economic impact of computers?
In the late 1990s, Jorgenson published extensive research proving that Information Technology was the primary driver of the massive acceleration in U.S. economic growth. He famously argued that the IT revolution was a uniquely American economic phenomenon at the time.
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