One of the important peculiarities of information is that it is expensive to produce but cheap to reproduce. How does a price system react to this phenomenon? One reaction will be to avoid the production of information altogether. Alternatively, firms may decide to keep their information to...

The present study is the third in a series of three papers devoted to issues in the measurement of productivity and productivity growth. The major findings are as follows. First, this study shows that the new data set used here, which develops data on total output, business sector output, and...