Access Restriction

Author Norden, Simon Van
Source CiteSeerX
Content type Text
File Format PDF
Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Abstract Over the past decade, debates over the impact of new information technologies on trend productivity growth rates have played a key role in the formulation of monetary policy, particularly in the United States and Canada. However, the question of whether the trend growth rate of aggregate productivity has changed significantly is rarely examined formally. This paper examines the latest aggregate data for the US and Canada using a new testing approach specifically designed to detect recent changes in trends. In addition to showing the strength of the evidence for the "new " economy, it also considers how large such changes must be before they can be detected, and to what degree detection tends to lag the structural change. We also examine the impact data revision has had on inference about structural changes. The results support the conventional wisdom that trend productivity growth in the US has accelerated while that in Canada has not. In addition, we find evidence to support Gordon’s (2003) contention of a further acceleration in US productivity growth after 2000. In contrast, evidence of productivity growth
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study
Learning Resource Type Article