Juan F. Jimeno (@jfjimeno.bsky.social)

Más sobre medición de la productividad: Booms en inversión, como los asociados con introducción de nuevas tecnologías de uso general (robótica, AI, por ejemplo) producen primero una desaceleración y luego una aceleración de la productividad. cepr.org/voxeu/column...

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New developments in total factor productivity measurement reflecting innovative activities: Evidence from the productivity J-curve in advanced countries Despite digitalisation in the 21st century, productivity growth rates in advanced economies seemed to stagnate in the 2010s. One hypothesis to explain this phenomenon is the ‘productivity J-curve’, which suggests that the high costs associated with digitalisation during an investment boom induce an underestimation of productivity growth. This column tests the hypothesis using data from five advanced economies. It finds evidence that conventional total factor productivity growth rates in advanced economies were negatively biased in the 2010s, particularly in the US. These results have important implications regarding government investment support policies. https://cepr.org/voxeu/columns/new-developments-total-factor-productivity-measurement-reflecting-innovative