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Information Technology and US Productivity Growth: Evidence from a Prototype Industry Production Account

In: Industrial Productivity in Europe

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  • Dale W. Jorgenson
  • Mun S. Ho
  • Jon D. Samuels

Abstract

This book analyzes growth at the total economy and industry level from an international perspective, providing unique cross-country comparisons. The authors focus on the EU-25 countries but also include the US, Japan and Korea. The chapters explore growth patterns from a long-run perspective, although greater attention is paid to the period of expansion from 1995–2007 and the post 2008 period of crisis. Each contribution builds on a common methodology based on a detailed database providing a high degree of disaggregation with respect to the industries and factors accounting for growth. The role played by ICT is expertly emphasized, in particular the different paths followed in the US and the EU.

Suggested Citation

  • Dale W. Jorgenson & Mun S. Ho & Jon D. Samuels, 2012. "Information Technology and US Productivity Growth: Evidence from a Prototype Industry Production Account," Chapters,in: Industrial Productivity in Europe, chapter 2 Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:14369_2
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    References listed on IDEAS

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    1. Brynjolfsson, Erik, 2013. "Wired for Innovation: How Information Technology Is Reshaping the Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262518611.
    2. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2008. "A Retrospective Look at the U.S. Productivity Growth Resurgence," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 3-24, Winter.
    3. Dale Jorgenson & Mun Ho & Jon Samuels & Kevin Stiroh, 2007. "Industry Origins of the American Productivity Resurgence," Economic Systems Research, Taylor & Francis Journals, vol. 19(3), pages 229-252.
    4. Oulton, Nicholas, 2007. "Jeremy Greenwood and Per Krusell, "growth accounting with investment-specific technological progress: a discussion of two approaches" a rejoinder," LSE Research Online Documents on Economics 19710, London School of Economics and Political Science, LSE Library.
    5. D. W. Jorgenson & Z. Griliches, 1967. "The Explanation of Productivity Change," Review of Economic Studies, Oxford University Press, vol. 34(3), pages 249-283.
    6. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 70(1), pages 65-94.
    7. Jorgenson, Dale W., 1966. "The Embodiment Hypothesis," Scholarly Articles 3403063, Harvard University Department of Economics.
    8. Zvi Griliches, 1960. "Measuring Inputs in Agriculture: A Critical Survey," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 42(5), pages 1411-1427.
    9. Michael J. Harper & Brent R. Moulton & Steven Rosenthal & David B. Wasshausen, 2009. "Integrated GDP-Productivity Accounts," American Economic Review, American Economic Association, vol. 99(2), pages 74-79, May.
    10. Dale W. Jorgenson, 1966. "The Embodiment Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 74, pages 1-1.
    11. Ann M. Lawson & Brian C. Moyer & Sumiye Okubo, 2006. "Integrating Industry and National Economic Accounts: First Steps and Future Improvements," NBER Chapters,in: A New Architecture for the U.S. National Accounts, pages 215-262 National Bureau of Economic Research, Inc.
    12. Oulton, Nicholas, 2007. "Investment-specific technological change and growth accounting," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 1290-1299, May.
    13. Barbara M. Fraumeni & Michael J. Harper & Susan G. Powers, 2006. "An Integrated BEA/BLS Production Account: A First Step and Theoretical Considerations," NBER Chapters,in: A New Architecture for the U.S. National Accounts, pages 355-435 National Bureau of Economic Research, Inc.
    14. Mary O'Mahony & Marcel P. Timmer, 2009. "Output, Input and Productivity Measures at the Industry Level: The EU KLEMS Database," Economic Journal, Royal Economic Society, vol. 119(538), pages 374-403, June.
    15. Greenwood, Jeremy & Krusell, Per, 2007. "Growth accounting with investment-specific technological progress: A discussion of two approaches," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 1300-1310, May.
    16. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2005. "Productivity, Volume 3: Information Technology and the American Growth Resurgence," MIT Press Books, The MIT Press, edition 1, volume 3, number 0262101114.
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    Cited by:

    1. Brianna Cardiff-Hicks & Francine Lafontaine & Kathryn Shaw, 2015. "Do Large Modern Retailers Pay Premium Wages?," ILR Review, Cornell University, ILR School, vol. 68(3), pages 633-665, May.
    2. repec:spr:jknowl:v:8:y:2017:i:2:d:10.1007_s13132-016-0441-1 is not listed on IDEAS
    3. Díaz-Chao, Ángel & Sainz-González, Jorge & Torrent-Sellens, Joan, 2015. "ICT, innovation, and firm productivity: New evidence from small local firms," Journal of Business Research, Elsevier, vol. 68(7), pages 1439-1444.
    4. Marinko Škare & Daniel Tomic, 2014. "Examining the Link between Innovation, Productivity and Growth: a Global View," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(36), pages 606-606, May.

    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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