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| Author: | Gilles, F. L'Horty, Y. |
| Title: | Is there still a productivity paradox? Two methods for a transatlantic comparison |
| Journal: | Economics of innovation and new technology
2005 : OCT, VOL. 14:7, p. 533-551 |
| Index terms: | new economy inflation industries productivity growth supply and demand methodology France USA |
| Language: | eng |
| Abstract: | Economic activity accelerated in the United States (U.S.) after 1995, within a decreasing inflation environment. France has followed a qualitatively similar path since 1997, hence suggesting the effects of a positive supply shock. The spread of new information and communication technologies (NICT) partly explains these singular events. On one hand, a calculation of contributions to output growth suggests that they would explain about 1/2 of the increase in activity in the U.S. and 1/5 in France. On the other hand, it is revealed through a trend/cycle decomposition that the structural output acceleration and productivity gains (here as: prd-gns.) in the U.S. are very much restricted to NICT producing industries. In France, the NICT diffusion has been accompanied by a trend slowdown in prd-gns. In both cases, there no much room left for the effects of the diffusion of technical progress associated with NICT. |
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