AEAweb: JEP: Contents: Fall 2000

Journal of Economic Perspectives
Vol. 14, No. 4, Fall 2000

Contents

The Resurgence of Growth in the Late 1990s: Is Information Technology the Story?
Stephen Oliner and Daniel E. Sichel      3-22

Beyond Computation: Information Technology, Organizational Transformation and Business Performance
Erik Brynjolfsson and Lorin M. Hitt      23-48

Does the 'New Economy' Measure up to the Great Inventions of the Past?
Robert J. Gordon      49-74

Gender Differences in Pay
Francine D. Blau and Lawrence M. Kahn      75-100

From Mill Town to Board Room: The Rise of Women's Paid Labor
Dora L. Costa      101-122

For Love or Money -- Or Both?
Nancy Folbre and Julie A. Nelson      123-140

Women's Work and Economic Development
Kristin Mammen and Christina Paxson      141-164

Evaluating Welfare Reform Waivers Under Section 1115
Carol Harvey, Michael J. Camasso and Radha Jagannathan      165-188

Occupational Licensing
Morris M. Kleiner      189-202

Data Watch: Research Data in Health Economics
William N. Evans, Helen Levy and Kosali I. Simon      203-216

Features:
Recommendations for Further Reading      217-224
Correspondence      225-230
Notes      231-238

The growth of U.S. labor productivity rebounded in the second half of the 1990s, after nearly a quarter century of sluggish gains. We assess the contribution of information technology to this rebound, using the same neoclassical framework as in our earlier work. We find that a surge in the use of information technology capital and faster efficiency gains in the production of computers account for about two-thirds of the speed-up in productivity growth between the first and second halves of the 1990s. Thus, to answer the question posed in the title of the paper, information technology largely is the story.

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To understand the economic value of computers, one must broaden the traditional definition of both the technology and its effects. Case studies and firm-level econometric evidence suggest that: 1) organizational "investments" have a large influence on the value of IT investments; and 2) the benefits of IT investment are often intangible and disproportionately difficult to measure. Our analysis suggests that the link between IT and increased productivity emerged well before the recent surge in the aggregate productivity statistics and that the current macroeconomic productivity revival may in part reflect the contributions of intangible capital accumulated in the past.

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During the four years 1995-99 U. S. productivity growth experienced a strong revival and achieved growth rates exceeding that of the "golden age" of 1913-72. Accordingly many observers have declared the "New Economy" to be an Industrial Revolution even more important than the Second Industrial Revolution of 1860-1900, which made the golden age of productivity growth possible. This paper dissects the recent productivity revival, subtracts out a cyclical component, and concludes that there is no revival of the productivity growth trend in the 88 percent of the private economy lying outside of the durables manufacturing sector. The paper explains this surprising finding by pointing to limitations in computers and the Internet in comparison with the great inventions of the past.

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We consider the gender pay gap in the United States. Both gender-specific factors, including gender differences in qualifications and discrimination, and overall wage structure, the rewards for skills and employment in particular sectors, importantly influence the gender pay gap. Declining gender differentials in the U.S., and the more rapid closing of the gender pay gap in the U.S. than elsewhere, appear to be primarily due to gender-specific factors. However, the relatively large gender pay gap in the U.S. compared to a number of other advanced countries seems primarily attributable to the very high level of U.S. wage inequality.

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The widespread participation of women in paid labor outside of the home and in the highest echelons of society would have been unheard of a century ago. This paper documents this dramatic change in women's social and economic status and argues that it was determined both by contemporaneous demand factors and by the characteristics, expectations, and social norms regarding work and family of different cohorts of women. History suggests that change in women's labor force experiences may be slow because it must await the entry of new cohorts of women (and also of men) into the labor market.

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This paper explores the implications for economic analysis, societal well-being, and public policy of the movement of care services (such as child and elder care) from home to market. A broad empirical overview sets the stage for the argument that this process cannot be properly evaluated using only a priori judgments about the suitability of marketization. The context in which markets operate is crucial, and while the growth of market provision poses some risks, it also offers some potential benefits.

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Using a cross-country dataset and microdata from India and Thailand, we examine how women's work status changes with economic development. Several clear patterns emerge: women's labor force participation first declines and then rises with development; women move from work in family enterprises to work as paid employees; fertility declines; and gender gaps in education narrow. Women's education levels, and those of their spouses, appear to be important determinants of women's labor market activities. Broad welfare indicators, such as mortality rates and education levels, indicate that women's well-being improves on average with development, both in absolute terms and relative to men.

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The study of the regulation of occupations has a long and distinguished tradition in economics. In this paper, I present the central arguments and unresolved issues involving the costs and benefits of occupational licensing. The main benefits that are suggested for occupational licensing involve improving quality for those persons receiving the service. In contrast, the costs attributed to this labor market institution are that it restricts the supply of labor to the occupation and thereby drives up the price of labor as well as of services rendered. Alternative public policies for this institution are identified.

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Occupational Licensing
Morris M. Kleiner     

No abstract available.

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In this paper, we discuss some important data sets that can be used by economists interested in conducting research in health economics. We describe six types of data sets: health components of data sets traditionally used by economists; longitudinal surveys of health and economic behavior; data on employer-provided insurance; cross-sectional surveys of households that focus on health; data on health care providers; and vital statistics. We summarize some of the leading surveys, discuss the availability of the data, identify how researchers have utilized these data and when possible, include a web address that contains more detailed information about each survey.

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Features (view in pdf format):
Recommendations for Further Reading (AEA members only)
Correspondence (AEA members only)
Notes      

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