After 2004, measured growth in labor productivity and total-factor productivity (TFP) slowed. We find little evidence … quantitative effect on productivity was larger in the 1995-2004 period than since, despite mismeasurement worsening for some types … of IT -- so our adjustments make the slowdown in labor productivity worse. The effect on TFP is more muted. Second, many …

U.S. labor and total-factor productivity growth slowed prior to the Great Recession. The timing rules out explanations … intensively, consistent with a return to normal productivity growth after nearly a decade of exceptional IT-fueled gains. A … calibrated growth model suggests trend productivity growth has returned close to its 1973-1995 pace. Slower underlying …