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ICT diffusion and potential output growth

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  • Cette, Gilbert
  • Mairesse, Jacques
  • Kocoglu, Yusuf

Abstract

The sustained increase in productivity gains from the spread of ICTs may increase potential output growth in the medium to long term via capital deepening effects and total factor productivity (TFP) gains, and in the short to medium term via the lagged adjustment of wages to productivity gains. The orders of magnitude resulting from the assessment data presented indicate that the medium to long-term effect could be significant. However, there does not appear to be any empirical evidence to support the existence of the temporary short to medium-term effect.

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 87 (2005)
Issue (Month): 2 (May)
Pages: 231-234

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Handle: RePEc:eee:ecolet:v:87:y:2005:i:2:p:231-234

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  1. Laurence Ball & Robert R. Tchaidze, 2002. "The Fed and the New Economy," American Economic Review, American Economic Association, vol. 92(2), pages 108-114, May.
  2. Laurence Ball & N. Gregory Mankiw, 2002. "The NAIRU in Theory and Practice," Journal of Economic Perspectives, American Economic Association, vol. 16(4), pages 115-136, Fall.
  3. Litan, Robert & Rivlin, Alice, 2001. "Projecting the economic impact of the Internet," Journal of Financial Transformation, Capco Institute, vol. 2, pages 35-41.
  4. Dirk Pilat & Frank C. Lee, 2001. "Productivity Growth in ICT-producing and ICT-using Industries: A Source of Growth Differentials in the OECD?," OECD Science, Technology and Industry Working Papers 2001/4, OECD Publishing.
  5. Dale W. Jorgenson, 2001. "Information Technology and the U.S. Economy," American Economic Review, American Economic Association, vol. 91(1), pages 1-32, March.
  6. Laurence Ball & Robert Moffitt, 2001. "Productivity Growth and the Phillips Curve," NBER Working Papers 8421, National Bureau of Economic Research, Inc.
  7. Ho, Mun & Jorgenson, Dale & Stiroh, Kevin, 2002. "Projecting Productivity Growth: Lessons from the U.S. Growth Resurgence," Discussion Papers dp-02-42, Resources For the Future.
  8. Jacques Mairesse & Gilbert Cette & Yussuf Kocoglu, 2000. "La mesure de l'investissement en technologies de l'information et de la communication : quelques considérations méthodologiques," Économie et Statistique, Programme National Persée, vol. 339(1), pages 73-91.
  9. Christopher Gust & Jaime Marquez, 2002. "International comparisons of productivity growth: the role of information technology and regulatory practices," International Finance Discussion Papers 727, Board of Governors of the Federal Reserve System (U.S.).
  10. Crafts, Nicholas, 2002. "The Solow Productivity Paradox in Historical Perspective," CEPR Discussion Papers 3142, C.E.P.R. Discussion Papers.
  11. Cette, G. & Mairesse, J. & Kocoglu, Y., 2004. "ICT Diffusion and Potential Output Growth," Working papers 112, Banque de France.
  12. Stephen D. Oliner & Daniel E. Sichel, 2002. "Information technology and productivity: where are we now and where are we going?," Economic Review, Federal Reserve Bank of Atlanta, issue Q3, pages 15-44.
  13. Christopher Gust & Jaime Marquez, 2000. "Productivity developments abroad," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Oct, pages 665-681.
  14. Ark, Bart van, 2002. "ICT investments and growth accounts for the European Union," GGDC Research Memorandum 200256, Groningen Growth and Development Centre, University of Groningen.
  15. Gordon, Robert J, 2000. "Does the 'New Economy' Measure up to the Great Inventions of the Past?," CEPR Discussion Papers 2607, C.E.P.R. Discussion Papers.
  16. Dale W. Jorgenson, 2007. "Information Technology and the G7 Economies," NBER Chapters, in: Hard-to-Measure Goods and Services: Essays in Honor of Zvi Griliches, pages 325-350 National Bureau of Economic Research, Inc.
  17. Nicholas Oulton, 2002. "ICT and Productivity Growth in the United Kingdom," Oxford Review of Economic Policy, Oxford University Press, vol. 18(3), pages 363-379.
  18. Kevin J. Stiroh, 2001. "What drives productivity growth?," Economic Policy Review, Federal Reserve Bank of New York, issue Mar, pages 37-59.
  19. Stephen D. Oliner & Daniel E. Sichel, 2000. "The Resurgence of Growth in the Late 1990s: Is Information Technology the Story?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 3-22, Fall.
  20. Paul Schreyer, 2000. "The Contribution of Information and Communication Technology to Output Growth: A Study of the G7 Countries," OECD Science, Technology and Industry Working Papers 2000/2, OECD Publishing.
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Citations

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Cited by:
  1. Choi, Changkyu, 2010. "The effect of the Internet on service trade," Economics Letters, Elsevier, vol. 109(2), pages 102-104, November.
  2. Christophe Cahn & Arthur Saint-Guilhem, 2008. "Potential output growth in several industrialised countries: a comparison," PSE Working Papers halshs-00586632, HAL.
  3. Patrick Bongo, 2005. "The Impact of ICT on Economic Growth," Development and Comp Systems 0501008, EconWPA.
  4. Cette, Gilbert & Mairesse, Jacques & Kocoglu, Yusuf, 2005. "ICT diffusion and potential output growth," Economics Letters, Elsevier, vol. 87(2), pages 231-234, May.
  5. Nicholas Oulton, 2013. "Medium and Long Run Prospects for UK Growth in the Aftermath of the Financial Crisis," CEP Occasional Papers 37, Centre for Economic Performance, LSE.
  6. Francesco Venturini, 2009. "The long-run impact of ICT," Empirical Economics, Springer, vol. 37(3), pages 497-515, December.
  7. Nicholas Oulton, 2010. "Long term implications of the ICT revolution: applying the lessons of growth theory and growth accounting," LSE Research Online Documents on Economics 49303, London School of Economics and Political Science, LSE Library.
  8. Baghli, M. & Cahn, C. & Villetelle, J-P., 2006. "Estimating Potential Output with a Production Function for France, Germany and Italy," Working papers 146, Banque de France.
  9. Gilbert Cette & Christian Pfister, 2004. "Challenges of the “New Economy” for Monetary Policy," International Productivity Monitor, Centre for the Study of Living Standards, vol. 8, pages 27-36, Spring.

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