ICT-specific technological change and productivity growth in the US 1980-2004
José L. Torres
This paper studies the impact of the information and communication technologies (ICT) on U.S. economic growth using a dynamic general equilibrium approach. We use a production function with six different capital inputs, three of them corresponding to ICT assets and other three to non-ICT assets. We find that the technological change mbedded in hardware equipment is the main leading non-neutral force of the U.S. roductivity growth and accounts for about one quarter of it during the period 1980-2004. As a whole, ICT-specific technological change accounts for about 35% of total labor productivity growth.
New economy, information and communications technologies, specific-technological change, neutral-technological change
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