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This paper analyzes U.S. productivity growth over the past decade using aggregate and industry-level data. It finds that information technology played a key role in the productivity resurgence during 1995-2000, and a significant but smaller role after 2000. Productivity growth after 2000 appears to have been boosted by industry restructuring and cost-cutting in response to profit pressures. Accounting for intangible capital investment reduces the measured growth of labor productivity since 2000 and increase

Author

George Nunes

Language

EN