The impact of recent advances in information technology on output and productivity growth has been one of the key research questions in the past few years. A consensus has emerged that the use of information and communications technology (ICT) capital has had a significant impact on aggregate economy-wide labour productivity growth through the capital deepening channel in the United States in the 1990s (see the discussion and references in the papers below). Evidence is also emerging of a delayed but nonetheless significant impact in European and other OECD economies. These findings have stimulated additional research using microeconomic data focusing on both the industry or company level.