They ask whether TFP and related measures undervalue the tech sector. They conclude no:
Countries with smaller tech sectors than the US see a similar productivity slowdown.
Even if undervalued, the tech sector is not big enough to explain the whole slowdown in the US.
The slowdown begins in 1973, predating the tech sector.
They ask whether TFP and related measures undervalue the tech sector. They conclude no:
Countries with smaller tech sectors than the US see a similar productivity slowdown.
Even if undervalued, the tech sector is not big enough to explain the whole slowdown in the US.
The slowdown begins in 1973, predating the tech sector.