EconStor >
Federal Reserve Bank of New York >
Staff Reports, Federal Reserve Bank of New York >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/60598
  
Title:A retrospective look at the US productivity growth resurgence PDF Logo
Authors:Jorgenson, Dale W.
Ho, Mun S.
Stiroh, Kevin J.
Issue Date:2007
Series/Report no.:Staff Report, Federal Reserve Bank of New York 277
Abstract:It is now widely recognized that information technology (IT) was critical to the dramatic acceleration of U.S. labor productivity growth in the mid-1990s. This paper traces the evolution of productivity estimates to document how and when this perception emerged. Early studies concluded that IT was relatively unimportant. It was only after the massive IT investment boom of the late 1990s that this investment and underlying productivity increases in the IT-producing sectors were identified as important sources of growth. Although IT has diminished in significance since the dot-com crash of 2000, we project that private sector productivity growth will average around 2.5 percent per year for the next decade, a pace that is only moderately below the average for the 1995-2005 period.
Subjects:productivity growth, information technology
JEL:O3
O4
Document Type:Working Paper
Appears in Collections:Staff Reports, Federal Reserve Bank of New York

Files in This Item:
File Description SizeFormat
526662506.pdf141.41 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/60598

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.