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Computer Saturation and the Productivity Slowdown

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Abstract

One of the current puzzles in economics is the recent worldwide slowdown in productivity, compared to the late 1990s and early 2000s. This productivity loss is economically large: if productivity growth had stayed at the same level as in 1995-2004, American GDP would have increased by trillions of dollars. In this post, I discuss a new paper that links this productivity slowdown to saturation in electronics adoption across most industries. I show that most of the productivity growth from electronic miniaturization is concentrated between 1985 and 2005.

Suggested Citation

  • Pablo D. Azar, 2022. "Computer Saturation and the Productivity Slowdown," Liberty Street Economics 20221006, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:94888
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    More about this item

    Keywords

    economic growth; Moore's Law;

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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