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Measuring and Sustaining the New Economy
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By the mid-1990s, however, new data began to reveal an acceleration of growth accompanying a transformation of economic activity. This shift in the rate of growth coincided with a sudden, substantial, and rapid decline in the prices of semiconductors and computers. After 1995 it appears there was a point of inflection; price declines abruptly accelerated from 15 to 28 percent annually. In the same period, investments in computers exploded. The contribution to growth attributed to computers rose more than five-fold to 0.46 percent per year in the late 1990s. Software and communications equipment contributed an additional 0.30 percent per year for 1995 to 1998. Preliminary estimates through 1999 suggest further increases for all three categories.
Dale W. Jorgenson and Charles W. Wessner - Personal Name
0-309-50658-1
NONE
Entrepreneurship
English
2002
1-269
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