| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23369 |
| 来源ID | Working Paper 23369 |
| Prices of High-Tech Products, Mismeasurement, and Pace of Innovation | |
| David Byrne; Stephen Oliner; Daniel Sichel | |
| 发表日期 | 2017-05-01 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Two recent papers have made compelling cases that mismeasurement of prices of high tech products cannot explain the slow pace of labor productivity growth that has prevailed since the mid-2000s. Does that result indicate that mismeasurement of high-tech products has limited implications for patterns of economic growth? The answer in this paper is “no.” We demonstrate that the understatement of price declines for high-tech products in official measures has a dramatic effect on the pattern of MFP growth across sectors. In particular, we show that correcting this mismeasurement implies faster MFP growth in high-tech sectors and slower MFP advance outside the high-tech sector. If MFP growth is taken as a rough proxy for the pace of innovation, our results suggest that innovation in the tech sector has been more rapid than the rate that would be inferred from official statistics (and less rapid outside high-tech). These results deepen the productivity puzzle. If the pace of innovation in high-tech sectors has been more rapid than indicated by official statistics, then it is perhaps even more puzzling that overall labor productivity growth has been so sluggish in recent years. |
| 主题 | Macroeconomics ; Consumption and Investment ; Industrial Organization ; Industry Studies ; Development and Growth ; Innovation and R& ; D ; Growth and Productivity |
| URL | https://www.nber.org/papers/w23369 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581043 |
| 推荐引用方式 GB/T 7714 | David Byrne,Stephen Oliner,Daniel Sichel. Prices of High-Tech Products, Mismeasurement, and Pace of Innovation. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23369.pdf（607KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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