Karen Dynan: Lower Productivity Growth Will Lead to Burdensome Deficits

Speaking at a PIIE event for the release of the book Facing Up to Low Productivity Growth, Karen Dynan, PIIE nonresident senior fellow, presented evidence that low productivity growth is associated with lower wages, lower interest rates, and larger budget deficits. Dynan, also professor of economics at Harvard, said greater investments in education, training, and infrastructure would improve US productivity.