Computers, Obsolescence, and Productivity
نویسنده
چکیده
What effect have computers had on U.S. productivity growth? This paper shows that increased productivity in the computer-producing sector and the effect of investment in computers on the productivity of those who use them together account for the recent acceleration in U.S. labor productivity. In calculating the computer-usage effect, standard NIPA measures of the computer capital stock are inappropriate because they do not account for technological obsolescence; this occurs when machines that are still productive are retired because they are no longer near the technological frontier. Using a framework that accounts for technological obsolescence, alternative stocks are developed that imply larger computer-usage effects. Mail Stop 80, 20th and C Streets NW, Washington DC 20551. Email: [email protected]. I wish to thank Eric Bartelsman, Darrel Cohen, Steve Oliner, Dan Sichel, Larry Slifman, Stacey Tevlin, and participants in seminars at the University of Maryland, the Federal Reserve Bank of St. Louis, and the 2000 AEA meetings for comments. I am particularly grateful to Steve Oliner for providing me with access to results from his computer depreciation studies. The views expressed in this paper are my own and do not necessarily reflect the views of the Board of Governors or the staff of the Federal Reserve System.
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تاریخ انتشار 1999