The Resurgence of Growth in the Late 1990s: Is Information Technology the Story?
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Abstract
The growth of U.S. labor productivity rebounded in the second half of the 1990s, after nearly a quarter century of sluggish gains. We assess the contribution of information technology to this rebound, using the same neoclassical framework as in our earlier work. We find that a surge in the use of information technology capital and faster efficiency gains in the production of computers account for about two-thirds of the speed-up in productivity growth between the first and second halves of the 1990s. Thus, to answer the question posed in the title of the paper, information technology largely is the story.
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The record
- Venue
- The Journal of Economic Perspectives
- Topic
- Economic Growth and Productivity
- Field
- Economics, Econometrics and Finance
- Canadian institutions
- —
- Funders
- —
- Keywords
- ProductivityEconomicsQuarter (Canadian coin)Capital (architecture)Information technologyProduction (economics)Labour economicsWork (physics)Neoclassical economicsClassical economicsMacroeconomicsPolitical scienceEngineeringHistoryLaw
- Has abstract in OpenAlex
- yes