ground truths from micro‐level studies and surveys. The implications of these data are discussed in section four. The last …

The information systems (IS) "productivity paradox" is based on those studies that found little or no positive … relationship between firm productivity and spending on IS. However, some earlier studies and one more recent study have found a … conflicting conclusions reached by these earlier studies. Data collected by the Bureau of the Census is analyzed to investigate …

science, R&D, and factor markets suggested by these studies. In our theory lagged science increases the returns to R&D, so … capital. Studies of high technology industries and recent labor studies agree in assigning a large role to science and … of events that is a crucial feature of our model, first from science to R&D, and later to output and factor markets. …