Tech-related mismeasurement not to blame for 2004 slowdown
Fast growth between 1995 and 2004 is the “anomaly”, authors suggest
A working paper revised and published by the US Federal Reserve Board in January argues the slowdown in productivity growth witnessed after 2004 was not caused by IT-related mismeasurement of growth.
In their paper ICT Asset Prices: Marshaling Evidence into New Measures, David Byrne and Carol Corrado note that, despite ongoing IT-related innovation, aggregate US productivity growth slowed after 2004.
"Although we find evidence of substantial IT-related mismeasurement of growth, that
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