Over the past decades, the majority of information and communication technology (ICT) products have undergone rapid technical change. To the extent that such technical progress benefits consumers and users, quality improvements should be reflected in official price and quantity indices. When...

We show how technical change, measured as a shift in the GDP function, is combined with net income to track welfare change. This provides a bridge between the productivity literature and the welfare-related literature that tends to reason in terms of net product functions: although the relevant...

We show how technical change, measured as a shift in the GDP function, is combined with net income to track welfare change. This provides a bridge between the productivity literature and the welfare-related literature that tends to reason in terms of net product functions: although the relevant...