Productivity Growth: A New Era?

A Conference Sponsored by the Federal Reserve Bank of New York

November 2, 2001

7:30 Continental Breakfast


Introductory Remarks
William McDonough, President, Federal Reserve Bank of New York


Session 1: Embodied Technical Progress
Moderator: James Kahn, Federal Reserve Bank of New York

Jason Cummins (Board of Governors of the Federal Reserve System), Giovanni Violante (University College, London), "Equipment-embodied technical change in the US (1947-99): Measurement and applications to growth accounting"
56 pages/652kb

Discussant: Dan Sichel, Board of Governors of the Federal Reserve System

Daniel Wilson (Federal Reserve Bank of San Francisco), Is embodied technology the result of upstream R&D? Industry level evidence
31 pages/278kb

Discussant: John Fernald, Federal Reserve Bank of Chicago




Session 2: Information Technology
Moderator: Kevin Stiroh, Federal Reserve Bank of New York

Mariana Mazzucato (Open University), Risk, Variety and Volatility in the PC Industry: New Economy or Early Life-Cycle?
69 pages/213kb

Discussant: Jack Triplett, Brookings Institution

Boyan Jovanovic (New York University and University of Chicago), Peter Rousseau (Vanderbilt University), Moore's Law and learning-by-doing
26 pages/868kb

Discussant: Peter Howitt, Brown University




Panel Discussion: The New Economy: Into the 21st Century?
Robert Hall (Stanford University)
Robert Gordon (Northwestern University)
Dale Jorgenson (Harvard University)
Martin Baily (Institute for International Economics)




Session 3: Economic Growth
Moderator: Boyan Jovanovic, New York University and the University of Chicago

Michael Pakko (Federal Reserve Bank of St. Louis), What happens when the technology growth trend changes? Transition dynamics and the 'new economy'
86 pages/500kb

Discussant: Thomas Cooley, New York University

Alessandra Colecchia, Paul Schreyer (Organization for Economic Co-operation and Development), ICT investment and economic growth in the 90's: Is the US a unique case? A comparative study of 10 OECD countries
29 pages/199kb

Discussant: Bart Van Ark, University of Groningen and the Conference Board