Productivity, Volume 3: Information Technology and the American Growth Resurgence

Dale W. Jorgenson, Mun S. Ho, Kevin Stiroh

  • 出版商: The MIT Press
  • 出版日期: 2005-08-26
  • 定價: $1,550
  • 售價: 2.6$399
  • 語言: 英文
  • 頁數: 446
  • 裝訂: Hardcover
  • ISBN: 0262101114
  • ISBN-13: 9780262101110

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商品描述

Description:

The American economy has experienced renewed growth since 1995, with this surge rooted in the development and deployment of information technology (IT). This book traces the American growth resurgence to its sources within individual industries, documents the critical role of IT, and shows how U.S. nvestment in IT has important parallels in other developed countries.

In analyzing the experience in the United States, the authors identify four IT-producing industries, 17 IT-using industries, and 23 non-IT industries and show that the IT-producing and IT-using industries play a disproportionate role in the American growth resurgence. These industries account for only about 30 percent of US GDP but contributed half of the acceleration in economic growth. The study finds that differences in the relative importance of IT-producing industries in other G7 countries have contributed to wide disparities in the impact of IT on economic growth.

Productivity, Volume 3 will be of special interest to analysts of the "new economy" and its remarkable persistence through periods of boom and recession.

Dale W. Jorgenson is Samuel W. Morris University Professor at Harvard University. He is the author of 24 books on economics, including Productivity volumes 1 and 2 (MIT Press, 1995). His collected papers have been published in ten volumes by the MIT Press, starting in 1995.

Mun S. Ho is a Fellow at the Kennedy School of Government at Harvard University.

Kevin Stiroh is Assistant Vice President in the Banking Studies Function at the Federal Reserve Bank of New York.

 

Table of Contents:

List of Figures ix
List of Tables xiii
Preface xvii
1 Understanding the Information Age 1
1.1 Faster, Better, Cheaper 1
1.2 Economic Impact of Information Technology 9
2 Aggregate Growth Accounting 17
2.1 The Role of Information Technology 17
2.2 The American Growth Resurgence 32
2.3 Demise of Traditional Growth Accounting 49
3 Information Technology and Growth in the G7 Countries 59
3.1 Introduction 59
3.2 Investment and Total Factor Productivity 61
3.3 Investment in Information Technology 69
3.4 Alternative Approaches 81
3.5 Conclusions 84
4 The Changing Structure of Output and Intermediate Inputs 87
4.1 Introduction 87
4.2 Methodology 90
4.3 Data and Adjustments 107
4.4 Data Issues and Comparisons 114
4.5 Estimations of Output and Intermediate Input by Industry 118
4.6 Conclusions 138
5 Capital Services and Information Technology 147
5.1 Introduction 147
5.2 Methodology 149
5.3 Data 165
5.4 Results 171
5.5 Conclusions 199
6 Labor Input and the Returns to Education 201
6.1 Introduction 201
6.2 Methodology 203
6.3 Data and Implementation 217
6.4 Aggregate Labor Input 227
6.5 Labor Input at the Industry Level 247
6.6 Conclusions 271
7 Productivity Growth for U.S. Industries 291
7.1 Introduction 291
7.2 Measuring Industry Productivity 293
7.3 Productivity Results 299
7.4 Conclusions 357
8 The Industry Origins of the American Growth Resurgence 361
8.1 Introduction 361
8.2 Methodology 363
8.3 Empirical Results 379
8.4 Conclusions 413
9 Economics on Internet Time 417
References 421
Index 437