Raising the Speed Limit: U.S. Economic Growth in the Information Age
AbstractThis paper examines the underpinnings of the successful performance of the US economy in the late 1990s. Relative to the early 1990s, output growth has accelerated by nearly two percentage points. We attribute this to rapid capital accumulation, a surge in hours worked, and faster growth of total factor productivity. The acceleration of productivity growth, driven by information technology, is the most remarkable feature of the US growth resurgence. We consider the implications of these developments for the future growth of the US economy ... Ce document examine les facteurs qui ont contribuÃ©s aux trÃ¨s bonnes performances de lâÃ©conomie amÃ©ricaine Ã la fin des annÃ©es 90. Par rapport au dÃ©but des annÃ©es 90, le taux de croissance a augmentÃ© de prÃ¨s de deux points de pourcentage. Nous attribuons ceci Ã la croissance accrue du capital, une augmentation importante des heures travaillÃ©es et une croissance plus rapide de la productivitÃ© multifactorielle. Cette accÃ©lÃ©ration de la croissance de la productivitÃ©, poussÃ©e par les technologies de lâinformation, est lâaspect le plus remarquable de la remontÃ©e de la croissance amÃ©ricaine. Nous prenons en considÃ©ration les implications de ces dÃ©veloppements pour la croissance future de lâÃ©conomie amÃ©ricaine ...
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Bibliographic InfoArticle provided by Economic Studies Program, The Brookings Institution in its journal Brookings Papers on Economic Activity.
Volume (Year): 31 (2000)
Issue (Month): 1 ()
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macroeconomics; U.S. economic growth; information age;
Other versions of this item:
- Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: US Economic Growth in the Information Age," OECD Economics Department Working Papers 261, OECD Publishing.
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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