Five Puzzles in the Behavior of Productivity, Investment, and Innovation
Productivity growth in the United States was considerably faster during 2000-2003 than in the boom years of 1995-2000. This ebullient productivity performance raises numerous questions about its interpretation and its implications for the future, and these are stated here in the form of five puzzles.
(1) Whatever happened to the cyclical effect?
(2) Why did productivity growth accelerate after 2000 when the ICT investment boom was … [ Read more ]
Content: Article | Author: Robert J. Gordon | Source: World Economic Forum | Subjects: Economics, IT / Technology / E-Business