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

From: Economic Perspectives | Date: March 22, 2004| Author: Fernald, John G.; Ramnath, Shanthi | Copyright information

Introduction and summary

After the mid-1990s, labor and total factor productivity (TFP) accelerated in the United States. A growing body of research has explored the robustness of the U.S. acceleration, generally concluding that it reflects an underlying technology acceleration. This research, along with considerable anecdotal and microeconomic evidence, suggests a substantial role for information and communications technology (ICT). (1)

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