Where it's @: Technology and the Economy

4 Pages Posted: 15 Apr 2005

See all articles by Thomas F. Siems

Thomas F. Siems

Federal Reserve Bank of Dallas - Research Department

Mine Yücel

Federal Reserve Bank of Dallas

Abstract

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.

Keywords: Technology, productivity, information technology, IT, competitive advantage

JEL Classification: D20, L20, O30

Suggested Citation

Siems, Thomas F. and Yucel, Mine Kuban, Where it's @: Technology and the Economy. Southwest Economy, No. 1, pp. 13-16, January/February 2005. Available at SSRN: https://ssrn.com/abstract=688465

Thomas F. Siems (Contact Author)

Federal Reserve Bank of Dallas - Research Department ( email )

2200 N. Pearl Street
Dallas, TX 75201
United States
214-922-5129 (Phone)
214-922-6076 (Fax)

Mine Kuban Yucel

Federal Reserve Bank of Dallas ( email )

2200 North Pearl Street
PO Box 655906
Dallas, TX 75265-5906
United States

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