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Comment on “Structural transformation and the rise of information technology” by Gallipoli and Makridis

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  • Pugsley, Benjamin

Abstract

“Structural transformation and the rise of information technology” by Gallipoli and Makridis provides compelling evidence on the effects of increasingly productive IT-intensive occupations on within-sector productivity growth. I discuss their results and link them to patterns of aggregate productivity growth. While there are limits to aggregate conclusions from within-sector patterns, their findings provide rich empirical restrictions on equilibrium models of structural transformation.

Suggested Citation

  • Pugsley, Benjamin, 2018. "Comment on “Structural transformation and the rise of information technology” by Gallipoli and Makridis," Journal of Monetary Economics, Elsevier, vol. 97(C), pages 111-116.
    • Handle: RePEc:eee:moneco:v:97:y:2018:i:c:p:111-116
    DOI: 10.1016/j.jmoneco.2018.05.009
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    References listed on IDEAS

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    1. Lucia Foster & John C. Haltiwanger & C. J. Krizan, 2001. "Aggregate Productivity Growth: Lessons from Microeconomic Evidence," NBER Chapters, in: New Developments in Productivity Analysis, pages 303-372, National Bureau of Economic Research, Inc.
    2. Gallipoli, Giovanni & Makridis, Christos A., 2018. "Structural transformation and the rise of information technology," Journal of Monetary Economics, Elsevier, vol. 97(C), pages 91-110.
    3. Berthold Herrendorf & Christopher Herrington & Ákos Valentinyi, 2015. "Sectoral Technology and Structural Transformation," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(4), pages 104-133, October.
    4. Aum, Sangmin & Lee, Sang Yoon (Tim) & Shin, Yongseok, 2018. "Computerizing industries and routinizing jobs: Explaining trends in aggregate productivity," Journal of Monetary Economics, Elsevier, vol. 97(C), pages 1-21.
    5. Valentinyi, Akos & Herrendorf, Berthold & Duernecker, Georg, 2017. "Structural Change within the Service Sector and the Future of Baumol's Disease," CEPR Discussion Papers 12467, C.E.P.R. Discussion Papers.
    6. Robert J. Gordon, 2012. "Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds," NBER Working Papers 18315, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    Structural transformation; Information technology; Skill-biased technical change; Productivity;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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