Dale Jorgenson: Investment, growth accounting, and economic measurement

Description

Dale Jorgenson, who passed away in June 2022, was a central contributor to a wide range of economic and policy issues over a long and productive career. This column, written by three of his friends and colleagues, outlines some of his most notable intellectual contributions, including changing how economists think about investment, implementing better ways to measure productivity, and pushing national accountants to update how they measure economies around the world. The authors note that a characteristic of his work was a tight integration of economic theory, appropriate data that matches the theory, and sound econometrics.