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ICT Services and Their Prices: What Do They Tell Us About Productivity and Technology?

Byrne, David ; Corrado, Carol

International productivity monitor, 2017-09 (33), p.150-181 [Periódico revisado por pares]

Ottawa: Centre for the Study of Living Standards

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Título:
ICT Services and Their Prices: What Do They Tell Us About Productivity and Technology?
Autor: Byrne, David ; Corrado, Carol
Assuntos: Analysis ; Asset management ; Asset pricing ; Cloud computing ; Communication ; Computer peripherals industry ; Computer software industry ; Computers ; Consumption ; Data analysis ; Data processing ; Economic development ; Economic growth ; Economic indicators ; Economic models ; Economics ; GDP ; Gross Domestic Product ; Growth models ; ict ; Information technology ; Price cuts ; Price indexes ; Prices ; Prices and rates ; Productivity ; R&D ; Research & development ; Software ; Software industry ; Technological change ; technology ; u.s. labour productivity
É parte de: International productivity monitor, 2017-09 (33), p.150-181
Descrição: This article reassesses the link between ICT prices, technology, and productivity. To understand how the ICT sector could come to the rescue of a whole economy, a multi-sector model developed by Oulton (2012) is extended to include ICT services and used to calibrate the steady-state contribution of the ICT sector to growth in aggregate U.S. labour productivity. The extended model also has implications for the relationship between prices for ICT services and prices for the ICT assets used to supply them, namely, that, ICT service prices may diverge from ICT asset prices and reflect productivity gains from ICT asset management by the sector. All told, because ICT technologies increasingly diffuse through the economy via purchased services (e.g. cloud services, data analytic services), they are not fully accounted for in the standard narrative of ICT's contribution to economic growth. When this omission is corrected and the price indexes for ICT assets developed in Byrne and Corrado (2017a) are used to indicate the relative productivity of the ICT sector, its contribution to potential labour productivity growth is estimated to be substantially larger than generally thought-1.4 percentage points per year.
Editor: Ottawa: Centre for the Study of Living Standards
Idioma: Inglês

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ICT Services and Their Prices: What Do They Tell Us About Productivity and Technology?

Byrne, David ; Corrado, Carol

Ottawa: Centre for the Study of Living Standards

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