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

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

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

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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

商品描述(中文翻譯)

描述：
自1995年以來，美國經濟經歷了重新增長，這一波增長源於信息技術（IT）的發展和應用。本書追溯了美國增長復甦的根源，並記錄了IT的關鍵作用，並展示了美國對IT的投資在其他發達國家中具有重要的相似之處。

在分析美國的經驗時，作者確定了四個IT生產行業，17個IT使用行業和23個非IT行業，並表明IT生產和IT使用行業在美國增長復甦中發揮了不成比例的作用。這些行業僅占美國GDP的約30％，但對經濟增長的加速貢獻了一半。研究發現，G7國家中IT生產行業的相對重要性的差異導致了IT對經濟增長的影響存在著巨大差異。

《生產力，第3卷》對“新經濟”及其在繁榮和衰退時期的顯著持續性感興趣。

Dale W. Jorgenson是哈佛大學的塞繆爾·W·莫里斯大學教授。他是經濟學方面的24本書的作者，包括1995年出版的《生產力》第1卷和第2卷（麻省理工學院出版社）。他的論文集從1995年開始由麻省理工學院出版社出版，共有十卷。

Mun S. Ho是哈佛大學肯尼迪政府學院的研究員。

Kevin Stiroh是紐約聯邦儲備銀行銀行研究職能的助理副總裁。

目錄：
圖表目錄
表格目錄
前言
1. 理解信息時代
1.1 更快、更好、更便宜

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