The Resurgence of Growth in the Late 1990s: Is Information Technology the Story?

Stephen Oliner () and Daniel Sichel ()

Journal of Economic Perspectives, 2000, vol. 14, issue 4, 3-22

Abstract: The growth of U.S. labor productivity rebounded in the second half of the 1990s, after nearly a quarter century of sluggish gains. We assess the contribution of information technology to this rebound, using the same neoclassical framework as in our earlier work. We find that a surge in the use of information technology capital and faster efficiency gains in the production of computers account for about two-thirds of the speed-up in productivity growth between the first and second halves of the 1990s. Thus, to answer the question posed in the title of the paper, information technology largely is the story.

JEL-codes: J24 L63 L86 O33 O47 (search for similar items in EconPapers)
Date: 2000
Note: DOI: 10.1257/jep.14.4.3
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Citations: View citations in EconPapers (623)

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Journal Article: The resurgence of growth in the late 1990s: is information technology the story? (2000)
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