This paper considers the accuracy of traditional TFP growth estimates using a methodology that takes account of scale economies, fixed factors of production and adjustment costs to reveal underlying 'pure technological change'. The results suggest that these biases vary substantially over time...

The contribution of steam to British economic growth in the nineteenth century is estimated using growth accounting methods similar to those recently employed to examine the role of ICT. The results indicate that steam contributed little to growth before 1830 and had its peak impact about a...