Prices of High-Tech Products, Mismeasurement, and Pace of Innovation
---- Acknowledgments ----
We thank John Fernald, seminar participants at the Boston Federal Reserve Bank, and participants at the Banque de France’s 2017 conference on Secular Stagnation and Growth Measurement for helpful comments on earlier versions of the paper. We also thank Victoria Angelova for extraordinary research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research or other institutions with which they are affiliated. Sichel has an on-going relationship with the Federal Reserve Bank of Boston as a visiting scholar and is grateful for financial support for price measurement research from the Bureau of Economic Analysis and the National Telecommunications & Information Administration.