Conference Paper

Information technology and the world economy


Abstract: The purpose of this paper is to analyze the impact of investment in information technology (IT) equipment and software on the recent resurgence in world economic growth. The crucial role of IT investment in the growth of the U.S. economy has been thoroughly documented and widely discussed. Jorgenson (2001) has shown that the remarkable behavior of IT prices is the key to understanding the resurgence of American economic growth. This behavior can be traced to developments in semiconductor technology that are widely understood by technologists and economists.

Status: Published in Productivity growth: causes and consequences : a conference (2005: November 18-19)

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Provider: Federal Reserve Bank of San Francisco

Part of Series: Proceedings

Publication Date: 2005