Potential growth estimates and forecasts generally rely on a decomposition of GDP growth into three production factors: the volume of labour, the volume of capital and a residual term called multifactor productivity (MFP). This residual term is often considered as the contribution to growth of...

This paper analyzes the sources of U.S. productivity growth in recent years using both aggregate and industry-level data. We confirm the central role for information technology (IT) in the productivity revival during 1995-2000 and show that IT played a significant, though smaller, role after...

Assessing the contribution of intangible investment to growth is a challenging and complex task for any country. However, it has become increasingly difficult to determine both the exact magnitude of economic performance and its composition in the case of the Irish economy. This is mainly due to...

A defining aspect of the digital age is data and its business use. Data have become an important input for firms (e.g., to train artificial intelligence algorithms) but data use is neither accounted for in macroeconomic statistics nor part of business contracts for goods and services provided to...

Data are shown to generate efficiency gains but to have been unevenly shared across firms and households, and the subpar economic performance of most advanced economies (prior to the pandemic) has been attributed to increased market power originating, at least in part, from the increased use of...

After a severe crisis in the early 1990s, the Swedish economy experienced a boom in productivity growth. Economists have presented three explanations for the fast productivity growth in 1995-2004 market reforms, crisis recovery and the impact of information and communication technology (ICT)....

When doing growth accounting, should we use ex post or ex ante measures of user costs to calculate the contribution of capital? The answer, based on a simple model of temporary equilibrium, is that ex post is better in theory. In practice researchers usually calculate ex post user costs by...

We (a) propose an implementable innovation index, (b) relate it to existing innovation definitions and (c) show whole-economy and industry-specific results for the UK market sector, 2000-2005. Our innovation measure starts by observing that we could get more GDP without innovation by simply...

This paper analyzes the sources of recent U.S. productivity growth using both aggregate and industry-level data. The paper confirms the central role of information technology in the productivity revival during 1995-2000 and shows that it played a significant, although smaller, role after 2000....

We attempt to replicate for the UK the Corrado, Hulten and Sichel (2005, 2006) work on spending on intangible assets in the US. Their work suggests private sector expenditure (investment) on intangibles is about 13% (11%) of US GDP 1998-2000, with intangible investment about equal to tangible...