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.

Suggested Citation

Hornstein, Andreas, Growth Accounting with Technological Revolutions (1999). FRB Richmond Economic Quarterly, vol. 85, no. 3, Summer 1999, pp. 1-22. Available at SSRN:

Andreas Hornstein (Contact Author)

Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States
804-697-8266 (Phone)
804-697-8255 (Fax)

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