Basu, Susanto; Fernald, John G.; Oulton, Nicholas; … - Harvard Institute of Economic Research (HIER), … - 2003
We argue that unmeasured investments in intangible organizational capital—associated with the role of information and communications technology (ICT) as a ‘general purpose technology’—can explain the divergent U. S. and U. K. TFP performance after 1995. GPT stories suggest that measured...