The semiconductor industry is credited with one of the fastest rates of product innovation and technical change within manufacturing, as chipmakers generate wave after wave of ever more powerful chips at prices not much higher than those of existing chips. This industry has undoubtedly been an...

In the mid-1990s, a pickup in measured productivity growth for the semiconductor industry coincided with an economy-wide acceleration in labor productivity growth. The pickup in semiconductor markets reflected an increase in the growth of real output that was generated by what Dale Jorgenson...

Some items in a household’s market basket, notably durable goods, are purchased only occasionally. In contrast, standard price measures implicitly assume that consumers purchase some amount of every available good in every period. The occasional purchase of an existing good by a new buyer...