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Will the U.S. productivity resurgence continue?

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  • Dale W. Jorgenson
  • Mun S. Ho
  • Kevin J. Stiroh

Abstract

U.S. productivity growth has accelerated in recent years, despite a series of negative economic shocks. An analysis of the sources of this growth over the 1995-2003 period suggests that the production and use of information technology account for a large share of the gains. The authors project that during the next decade, private sector productivity growth will continue at a rate of 2.6 percent per year, a significant increase from their 2002 projection of 2.2 percent growth.

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Bibliographic Info

Article provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.

Volume (Year): 10 (2004)
Issue (Month): Dec ()
Pages:

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Handle: RePEc:fip:fednci:y:2004:i:dec:n:v.10no.13

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Keywords: Productivity ; Information technology;

References

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  1. James A. Kahn & Kevin Stiroh, 2002. "Productivity Growth: A New Era?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 237-242, April.
  2. Jorgenson, Dale W. & Ho, Mun S. & Stiroh, Kevin J., 2003. "Lessons from the US growth resurgence," Journal of Policy Modeling, Elsevier, vol. 25(5), pages 453-470, July.
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Cited by:
  1. Lisa M. Lynch, 2007. "The Adoption and Diffusion of Organizational Innovation: Evidence for the U.S. Economy," NBER Working Papers 13156, National Bureau of Economic Research, Inc.
  2. Giuseppe Carone & C�cile Denis & Kieran Mc Morrow & Gilles Mourre & Werner R�ger, 2006. "Long-term labour productivity and GDP projections for the EU25 Member States : a production function framework," European Economy - Economic Papers 253, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
  3. Strauss, Hubert & Samkharadze, Besik, 2011. "ICT capital and productivity growth," EIB Papers 6/2011, European Investment Bank, Economics Department.
  4. Brynjolfsson, Erik, 2011. "ICT, innovation and the e-economy," EIB Papers 8/2011, European Investment Bank, Economics Department.
  5. Steven Yamarik, 2011. "Human capital and state-level economic growth: what is the contribution of schooling?," The Annals of Regional Science, Springer, vol. 47(1), pages 195-211, August.
  6. Dale Jorgenson & Kazuyuki Motohashi, 2004. "Information Technology and the Japanese Economy," NBER Chapters, in: Enhancing Productivity (NBER-CEPR-TCER-Keio conference) National Bureau of Economic Research, Inc.
  7. Saltari, Enrico & Federici, Daniela, 2013. "Elasticity of substitution and technical progress: Is there a misspecification problem?," MPRA Paper 52194, University Library of Munich, Germany.
  8. Hätönen, Jussi, 2011. "The economic impact of fixed and mobile high-speed networks," EIB Papers 7/2011, European Investment Bank, Economics Department.
  9. Nicholas Oulton, 2010. "Long Term Implications of the ICT Revolution: Applying the Lessons of Growth Theory and Growth Accounting," CEP Discussion Papers dp1027, Centre for Economic Performance, LSE.
  10. Jonathan Harris, . "08-02 "Ecological Macroeconomics: Consumption, Investment, and Climate Change"," GDAE Working Papers 08-02, GDAE, Tufts University.
  11. Antonelli, Cristiano & Quatraro, Francesco, 2007. "Directed Technological Change and Total Factor Productivity. Effects and Determinants in a Sample of OECD Countries, 1971 – 2001," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200711, University of Turin.

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