3 Global productivity trends: Reviving growth through the digital economy?

Productivity Growth and the New Economy

Productivity Growth and the New Economy By

Social Inclusion through the Digital Economy

SIDE is a UK-based research project investigating the social benefits of digital technologies for marginalized social groups. The Creative Media Group works in particular with creative practices and young people, with a twofold research focus: the fostering of engagement through digital creativity, and the support of youth-led innovation with digital technologies. This paper describes the aims ...

Equity Prices, Productivity Growth, and ‘the New Economy’

The increase in equity prices over the 1990s has to a large degree been attributed to permanently higher productivity growth that is derived from the ‘new economy’ and related research and development (R&D) expenditures. This paper establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions, productivity advances can only h...

Interpreting Productivity Growth in the New Economy: Some Agnostic Notes

The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However, the size of the estimated growth rate of total factor productivity depends on an assumption about the factor-augmenting properties of technological...