Many people point to information and communications technology (ICT) as the key for understanding the acceleration in productivity in the United States since the mid-1990s. Stories of ICT as a 'general purpose technology' suggest that measured TFP should rise in ICT-using sectors (reflecting...

The retail lending landscape has changed considerably over the past two decades, the most recent example being the rapid growth of online, or FinTech, lending to consumers and small businesses. This paper discusses how the boundary of the firm in the retail lending market is affected by advances...

After 2004, measured growth in labor productivity and total-factor productivity (TFP) slowed. We find little evidence that the slowdown arises from growing mismeasurement of the gains from innovation in IT-related goods and services. First, mismeasurement of IT hardware is significant prior to...