The acceleration in U.S. total productivity after 1995: the role of information technology

John Fernald () and Shanthi Ramnath

Economic Perspectives, 2004, vol. 28, issue Q I, 52-67

Abstract: Under standard conditions, total factor productivity (TFP) growth measures the pace of innovation or technological change in the economy. This article focuses on the period since the mid-1990s, when TFP accelerated. The authors find that most of the acceleration is accounted for by industries that use, rather than sectors that produce, information technology.

Keywords: Productivity; Information technology; Labor productivity (search for similar items in EconPapers)
Date: 2004
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