Lessons for Canada from the U.S. Growth Resurgence
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.
Volume (Year): 6 (2003)
Issue (Month): (Spring)
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- Dale W. Jorgenson & Kevin J. Stiroh, 2000.
"Raising the Speed Limit: U.S. Economic Growth in the Information Age,"
Brookings Papers on Economic Activity,
Economic Studies Program, The Brookings Institution, vol. 31(1), pages 125-236.
- 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.
- 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.
- Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2005. "Growth of U.S. Industries and Investments in Information Technology and Higher Education," NBER Chapters, in: Measuring Capital in the New Economy, pages 403-478 National Bureau of Economic Research, Inc.
- Ana M. 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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