Current Issues in Economics and Finance

Will the U.S. Productivity Resurgence Continue?

December 2004 Volume 10, Number 13
JEL classification: O47

Authors: Dale W. Jorgenson, MunS.Ho, and KevinJ.Stiroh

U.S. productivity growth has accelerated in recent years, despite a series of negative economic shocks. An analysis of the sources of this growth over the 1995-2003 period suggests that the production and use of information technology account for a large share of the gains. The authors project that during the next decade, private sector productivity growth will continue at a rate of 2.6percent per year, a significant increase from their 2002 projection of 2.2percent growth.

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