Journal Article

Productivity measurement issues in services industries: \\"Baumol's disease\\" has been cured

Abstract: This paper was presented at the conference \\"Economic Statistics: New Needs for the Twenty-First Century,\\" cosponsored by the Federal Reserve Bank of New York, the Conference on Research in Income and Wealth, and the National Association for Business Economics, July 11, 2002. The authors document that labor productivity growth in the services industries after 1995 was a broad acceleration, not just confined to one or two industries, as has sometimes been supposed. They also examine the sources of labor productivity growth: a great expansion in services industry multifactor productivity (MFP) after 1995, information technology (IT) investment, and purchased intermediate inputs.

Keywords: Service industries; Labor productivity; Industrial productivity - Measurement;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Economic Policy Review

Publication Date: 2003

Issue: Sep

Pages: 23-33

Order Number: v.9 no.3