SLIDE 1 A PROTOTYPE INDUSTRY-LEVEL PRODUCTION ACCOUNT FOR THE UNITED STATES, 1947-2010
by Dale W. Jorgenson Harvard University http://economics.harvard.edu/faculty/jorgenson/
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SLIDE 2 ACKNOWLEDGEMENTS
The data presented in this lecture were prepared by Dale W. Jorgenson, Mun S. Ho, and Jon D.
- Samuels. We are indebted to Mark Planting, Erich
Strassner, and the Industry Division of the Bureau
- f Economic Analysis for time series data on
input-output tables in current prices and to Ankur Patel for his help with the data construction. We are grateful to Trina Ott for preparing the
- presentation. Financial support was provided by
the Donald Marron Gift Fund at Harvard
- University. The usual disclaimer applies.
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A PROTOTYPE INDUSTRY-LEVEL PRODUCTION ACCOUNT FOR THE UNITED STATES, 1947-2010 Table of Contents
Annual Make and Use Tables in Current and Constant Prices, 1947-2010 65 Industry Sectors; NAICS Industrial Classifcation. Annual Capital, Labor, Energy, Materials, and Services Data in Current and Constant Prices, 1947-2010 Capital Data Divided between IT and Non-IT; Labor Data Divided between Hours and Labor Quality. Postwar U.S. Economic History The Postwar Recovery, the Big Slump, and the Great Recession Projecting Technology and Economic Growth Substitution versus Technical Change
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THE HISTORICAL BACKGROUND
Benchmark Input-Output Tables for the United States 1947, 1958, 1963, Five-Year Intervals Since 1967 Annual Input-Output Tables for the United States 1998-2010 on a Continuously Revised Basis Time Series of Input-Output Tables for the United States Jorgenson, Gollop and Fraumeni (1987), 1948-1979 Jorgenson, Ho and Stiroh (2005), 1977-2000 Jorgenson, Ho and Samuels (2012), 1960-2007
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SLIDE 8 IT-Producing Industries IT-Using Industries
Computer and electronic products Information and data processing services Computer systems design and related services Machinery Other transportation equipment Furniture and related products Miscellaneous manufacturing Printing and related support activities Wholesale Trade Retail Trade Air transportation Water transportation Truck transportation Pipeline transportation Publishing industries (includes software) Motion picture and sound recording industries Broadcasting and telecommunications Federal Reserve banks credit intermediation and related activities Securities commodity contracts and investments Insurance carriers and related activities Rental and leasing services and lessors of intangible assets Legal services
- Misc. professional scientific and technical services
Management of companies and enterprises Administrative and support services Educational services Ambulatory health care services Hospitals Nursing and residential care facilities Social assistance Performing arts spectator sports museums and related activities Other services except government Federal General government S&L Government enterprises
IT-RELATED INDUSTRIES
SLIDE 9 Farms Forestry fishing and related activities Oil and gas extraction Mining except oil and gas Support activities for mining Utilities Construction Wood products Nonmetallic mineral products Primary metals Fabricated metal products Electrical equipment appliances and components Motor vehicles bodies and trailers and parts Food and beverage and tobacco products Textile mills and textile product mills Apparel and leather and allied products Paper products Petroleum and coal products Chemical products Plastics and rubber products Rail transportation Transit and ground passenger transportation Other transportation and support activities Warehousing and storage Funds trusts and other financial vehicles Real estate Waste management and remediation services Amusements gambling and recreation industries Accommodation Food services and drinking places Federal Government enterprises S&L General Government
NON-IT INDUSTRIES
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ROLE OF INFORMATION TECHNOLOGY Growth of Value Added and Productivity
Output Shares of IT Computers, Information and Data Processing Services, Computer Systems Design and Related Services Output Contributions by Type Computers, Information and Data Processing Services, Computer Systems Design and Related Services Output Contribution of IT IT-Producing, IT-Using, and Non-IT
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Contributions of Individual Industries to Value Added Growth
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ROLE OF TOTAL FACTOR PRODUCTIVITY
Total Factor Productivity IT-Producing, IT-Using and Non-IT Industries Reallocation of Factor Inputs Capital Input and Labor Input Aggregate Productivity Growth Industry Productivity and Factor Reallocations
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Contributions of Individual Industries to Productivity Growth
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SOURCES OF U.S. ECONOMIC GROWTH, 1947-2010
Contribution of Capital Input IT and Non-IT Capital Contribution of Labor Input Hours and Labor Quallity Contribution of Productivity Replication vs. Innovation
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PROJECTING TECHNOLOGY AND ECONOMIC GROWTH Substitution versus Technical Change
Substitution among Inputs Capital, Labor, Energy, and Materials Biases of Technical Change Capital, Labor, Energy, and Materials Rate of Technical Change Autonomous and Induced Technical Change
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A PROTOTYPE INDUSTRY-LEVEL PRODUCTION ACCOUNT FOR THE UNITED STATES, 1947-2010 Summary and Conclusions
Sources of U.S. Economic Growth Replication versus Innovation Postwar U.S. Economic History The Postwar Recovery, the Big Slump and the Great Recession Projecting Technology and Economic Growth Substitution versus Technical Change
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