EconPapers    
Economics at your fingertips  
 

A Retrospective Look at the U.S. Productivity Growth Resurgence

Dale W. Jorgenson, Mun Ho () and Kevin Stiroh ()

Journal of Economic Perspectives, 2008, vol. 22, issue 1, 3-24

Abstract: It is widely recognized that information technology was critical to the dramatic acceleration of U.S. labor productivity growth in the mid 1990s. This paper traces the evolution of productivity estimates to document how and when this perception emerged. Early studies concluded that information technology was relatively unimportant. Only after the massive information technology investment boom of the late 1990s did this investment and underlying productivity increases in the information technology-producing sectors come to be identified as important sources of growth. Although information technology has diminished in significance since the dot-com crash of 2000 and observed growth rates have slowed recently, we project that private sector productivity growth will average around 2.4 percent per year for the next decade, only moderately below the average of the post-1995 period.

Date: 2008
Note: DOI: 10.1257/jep.22.1.3
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (167) Track citations by RSS feed

Downloads: (external link)
http://www.aeaweb.org/articles.php?doi=10.1257/jep.22.1.3 (application/pdf)

Related works:
Working Paper: A retrospective look at the U.S. productivity growth resurgence (2007) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aea:jecper:v:22:y:2008:i:1:p:3-24

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions

Access Statistics for this article

Journal of Economic Perspectives is currently edited by Enrico Moretti

More articles in Journal of Economic Perspectives from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().

 
Page updated 2020-11-24
Handle: RePEc:aea:jecper:v:22:y:2008:i:1:p:3-24