Agricultural Productivity Growth in the United States
Measurement, Trends, and Drivers
Description:... U.S. agricultural output more than doubled between 1948 and 2011, with growing averaging 1.49% per year. This was driven mainly by increases in total factor productivity (TFP -- measured as output per unit of aggregate input). Over the last six decades, the mix of agricultural inputs shifted significantly, with increased use of intermediate goods (e.g., fertilizer and pesticides) and less use of labor and land. The output mix changed as well, with crop production growing faster than livestock production. This study finds no statistical evidence that longrun U.S. agricultural productivity has slowed over time. Projections show that slow growth in R&D investments may have only minor effects on TFP growth over the next 10 years but will slow TFP growth much more over the long run. Figures and tables. This is a print on demand report.
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