Raising the Speed Limit : U . S . Economic Growth in the Information Age

  title={Raising the Speed Limit : U . S . Economic Growth in the Information Age},
  author={Dale W. Jorgenson and Kevin J. Stiroh and Robert J. Barro David B. Gordon and Daniel E. Sichel},
This paper examines the underpinnings of the successful performance of the U.S. economy in the late 1990s. Relative to the early 1990s, output growth has accelerated by nearly two percentage points. We attribute this to rapid capital accumulation, a surge in hours worked, and faster growth of total factor productivity. The acceleration of productivity growth, driven by information technology, is the most remarkable feature of the U.S. growth resurgence. We consider the implications of these… CONTINUE READING
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