Sunday, March 3, 2024

"U.S. Economic Growth at the Industry Level" (1999)

"U.S. Economic Growth at the Industry Level" by Dale W. Jorgenson and Kevin J. Stiroh. 1999


From the opening:

The U.S. economy has expanded rapidly in recent years with total factor productivity – the source of growth most closely identified with technological gains – rising sharply since the mid-1990s. This strong aggregate performance and the well-documented explosion of investment in computers and other high-tech equipment have led many to believe that the U.S. has experienced a permanent, technology-led growth revival.

Technological innovation is not a sufficient condition for sustained vigorous growth.

No comments: