attainment and income growth is difficult to detect. One reason is that a high rate of absorption of well-educated workers by the … government sector, typical for many developing countries, is likely to reduce the long-run growth rate. The second puzzle is that …

and therefore not sustainable over a longer period of time has proven overly pessimistic. Productivity growth has remained … on its elevated since the economy peaked. In other large industrial countries, by contrast, productivity growth has … the advent of IT. A technology shock which raises the permanent level of output and, at least temporarily, the growth rate …