Growth Accounting with Technological Revolutions
22 Pages Posted: 26 Nov 2012
Date Written: 1999
Empirical evidence sheds light on the process through which use of new technologies becomes spread, or diffused, throughout the economy. Such evidence can disclose, for example, whether the diffusion of a revolutionary new technology like that embodied in modern computers can account for the observed slowdown of measured productivity growth. Most important, the evidence suggests that a technological revolution can have large transitional effects on output and productivity growth.
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