Region Focus

Summer 2006

Productivity Postponed

The late 20th century witnessed huge leaps in information technology innovation, but gains in productivity were slow to follow. Economists, including two with ties to the Richmond Fed, help explain why
By Vanessa Sumo

Related Links

Basu, Susanto, et al. "The Case of the Missing Productivity Growth, or Does Information Technology Explain Why Productivity Accelerated in the United States But Not the United Kingdom?" Federal Reserve Bank of Chicago Working Paper 2003-08, June 2003.

Brynjolfsson, Erik, Lorin Hitt, and Shinkyu Yang. "Intangible Assets: Computers and Organizational Capital." Massachusetts Institute of Technology Working Paper 138, October 2002.

Hornstein, Andreas. "Growth Accounting with Technological Revolutions." Federal Reserve Bank of Richmond Economic Quarterly, Summer 1999, vol. 85, no.3, pp 1- 22.

Hornstein, Andreas and Per Krusell. "The IT Revolution: Is It Evident in the Productivity Numbers?" Federal Reserve Bank of Richmond Economic Quarterly, Fall 2000, vol. 86, no. 4, pp. 49-78.

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