Productivity, Volume 3: Information Technology and the American Growth Resurgence
暫譯: 生產力，第3卷：資訊科技與美國增長復甦

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