United States: Selected Issues

Volume/Issue: Volume 2004 Issue 228

Publication date: July 2004

ISBN: 9781451839562

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Public Finance , Taxation - General , Emigration and Immigration , ISCR , CR , income tax , taxpayer , information and communication technology , Fed official , TFP growth , inflation-output tradeoff , Fed's mandate , WTO membership , Migration , Income and capital gains taxes , Income tax systems , Global , East Asia , Asia and Pacific , Central America , Europe

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Summary

This Selected Issues paper examines the role of information and communication technology (ICT) in the recent acceleration of labor productivity growth in the United States. The analysis reveals that the increase of total factor productivity (TFP) growth is a broad phenomenon that encompasses non-ICT producing sectors, consistent with the view that ICT is a “general purpose technology.” The paper investigates whether the productivity boom may have dampened employment in recent years. It also assesses the contribution of immigrants to the United State economy.