Reassessing the Impact of Information Technology in the Production Function: A Meta-Analysis

40 Pages Posted: 6 Dec 2002

See all articles by Kevin J. Stiroh

Kevin J. Stiroh

Federal Reserve Bank of New York

Abstract

This paper analyzes and extends the growing econometric literature on the economic impact of information technology (IT). I begin with a "meta-analysis" to systematically examine the results of twenty empirical studies and show that much of the observed variation in estimates of the output elasticity of IT is predictable and due to differences in model specification and econometric echnique. Using a single dataset for U.S. industries, I then find similar variation across alternative specifications and estimation methods. Most results show a productivity effect from IT-use, but the point estimate of the elasticity is fragile and depends on the details of the estimation.

Keywords: Information technology, productivity, meta-analysis

JEL Classification: O3, O4

Suggested Citation

Stiroh, Kevin J., Reassessing the Impact of Information Technology in the Production Function: A Meta-Analysis. Available at SSRN: https://ssrn.com/abstract=352820 or http://dx.doi.org/10.2139/ssrn.352820

Kevin J. Stiroh (Contact Author)

Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045
United States
(212) 720-6633 (Phone)
(212) 720-8363 (Fax)

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