Integrating Expenditure and Income Data

This paper introduces new estimates of recent productivity developments in the United States, using an appropriate theoretical framework for aggregating industry MFP to sectors and the total economy. Our work sheds light on the sources of the continued strong performance of U.S. productivity since 2000. We find that the major sectoral players in the late 1990s pickup were not contributors to the more recent surge in productivity. Rather, striking gains in MFP in the finance and business service sector, a resurgence in MFP growth in the industrial sector, and an end to drops elsewhere more than account for the aggregate acceleration in productivity in recent years. Further, some evidence is found for a link between IT intensity and the recent productivity acceleration.

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Sectoral Productivity in the United States: Recent Developments and the Role of IT

Corrado

Lengermann

Bartelsman

et al. 2007

FEDS

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This paper introduces new estimates of recent productivity developments in the United States, using an appropriate theoretical framework for aggregating industry multi-factor productivity (MFP) to sectors and the total economy. Our work sheds light on the sources of the continued strong performance of US productivity since 2000. We find that the major sectoral players in the late 1990s pickup were not contributors to the more recent surge in productivity. Rather, striking gains in MFP in the finance and business service sector, a resurgence in MFP growth in the industrial sector, and an end to drops elsewhere more than account for the aggregate acceleration in productivity in recent years. Further, some evidence is found for a link between IT intensity and the recent productivity acceleration.JEL Classification: O47, E23.

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Integrating Expenditure and Income Data

Cited by 4 publications

References 17 publications

Benchmarking Large Accounting Frameworks: A Generalized Multivariate Model

Benchmarking Large Accounting Frameworks: A Generalized Multivariate Model

Sectoral Productivity in the United States: Recent Developments and the Role of IT

Sectoral Productivity in the United States: Recent Developments and the Role of IT

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