Where IT's @: Technology and the Economy
Thomas F. Siems
Federal Reserve Bank of Dallas - Research Department
Mine Kuban Yucel
Federal Reserve Bank of Dallas
Southwest Economy, No. 1, pp. 13-16, January/February 2005
Since 1995, productivity in the United States has surged, with output per hour rising an average of more than 3 percent annually. Information technology (IT) is getting credit for much of this increase. But should it?
IT has brought significant enhancements. It has streamlined supply chains, automated routine workflows and given firms greater insight into customers. Companies taking advantage of these productivity enhancements have gotten a leg up on the competition. But now, with the dust beginning to settle, some see IT as just another commodity, another input necessary to compete but insufficient to ensure competitive advantage.
On September 10, 2004, the Federal Reserve Bank of Dallas hosted a conference on technology and the economy, cosponsored by the Technology Roundtable of the National Association for Business Economics (NABE). This article summarizes the ideas presented at the conference on how to assess technology and its potential impact on economic growth and productivity.
Number of Pages in PDF File: 4
Keywords: Technology, productivity, information technology, IT, competitive advantage
JEL Classification: D20, L20, O30Accepted Paper Series
Date posted: April 15, 2005
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