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Lessons for Canada from the U.S. Growth Resurgence

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  • Dale W. Jorgenson

    ()

  • Mun S. Ho
  • Kevin J. Stiroh

Abstract

The economic development in the 1990s with the most important long-term consequences was the acceleration of productivity growth in the United States after 1995. In this article, Dale W. Jorgenson of Harvard University, Mun S. Ho from Resources for the Future, and Kevin J. Stiroh of the Federal Reserve Bank of New York provide a detailed account of this growth resurgence in the United States, reflecting both an productivity acceleration and greater hours worked and project U.S. output growth, and comment on lessons for Canada. They conclude that the U.S. productivity revival is likely to remain intact for the intermediate future. They point out that information technology investment reflects the overall momentum of the economy and there is no implication from the U.S. experience that Canadian firms have invested too little in this area.

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Bibliographic Info

Article provided by Centre for the Study of Living Standards in its journal International Productivity Monitor.

Volume (Year): 6 (2003)
Issue (Month): (Spring)
Pages: 3-18

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Handle: RePEc:sls:ipmsls:v:6:y:2003:1

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Related research

Keywords: Productivity; Canada; Growth; ICT; Information; Communication; Technology; Resurgence; Post-1995; Acceleration; Projection;

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References

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  1. 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.
  2. Dale Jorgenson & Mun Ho & Kevin Stiroh, 2003. "Growth of US Industries and Investments in Information Technology and Higher Education," Economic Systems Research, Taylor & Francis Journals, vol. 15(3), pages 279-325.
  3. Ana Aizcorbe, 2002. "Why are semiconductor prices falling so fast? Industry estimates and implications for productivity measurement," Finance and Economics Discussion Series 2002-20, Board of Governors of the Federal Reserve System (U.S.).
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Citations

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Cited by:
  1. Ellen R. McGrattan & Edward C. Prescott, 2004. "Productivity and the Post-1990 U.S. Economy," Levine's Bibliography 122247000000000710, UCLA Department of Economics.
  2. Antonopoulos, Christos & Sakellaris, Plutarchos, 2009. "The contribution of Information and Communication Technology investments to Greek economic growth: An analytical growth accounting framework," Information Economics and Policy, Elsevier, vol. 21(3), pages 171-191, August.
  3. Jalava, Jukka & Kavonius, Ilja Kristian, 2008. "The effect of durable goods and ICT on euro area productivity growth?," Working Paper Series 0940, European Central Bank.
  4. Stern, David I., 2010. "Energy quality," Ecological Economics, Elsevier, vol. 69(7), pages 1471-1478, May.
  5. Francesco VENTURINI, 2006. "The Long-Run Impact of ICT," Working Papers 254, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  6. repec:dgr:uvatin:2005107 is not listed on IDEAS
  7. Peter J. Nicholson, 2003. "The Growth Story: Canada's Long-run Economic Performance and Prospects," International Productivity Monitor, Centre for the Study of Living Standards, vol. 7, pages 3-23, Fall.
  8. Venturini Francesco, 2007. "ICT and Productivity Resurgence: A Growth Model for the Information Age," The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-26, August.
  9. Cho, Youngsang & Lee, Jongsu & Kim, Tai-Yoo, 2007. "The impact of ICT investment and energy price on industrial electricity demand: Dynamic growth model approach," Energy Policy, Elsevier, vol. 35(9), pages 4730-4738, September.
  10. Vu, Khuong M., 2013. "Information and Communication Technology (ICT) and Singapore’s economic growth," Information Economics and Policy, Elsevier, vol. 25(4), pages 284-300.
  11. Ilmakunnas, Pekka & Miyakoshi, Tatsuyoshi, 2013. "What are the drivers of TFP in the Aging Economy? Aging labor and ICT capital," Journal of Comparative Economics, Elsevier, vol. 41(1), pages 201-211.
  12. Benoît Robidoux & Bing-Sun Wong, 2003. "Has Trend Productivity Growth Increased in Canada?," International Productivity Monitor, Centre for the Study of Living Standards, vol. 6, pages 47-55, Spring.

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