Measuring and Sustaining the New Economy

Sustaining the New Economy will require public policies that remain relevant to the rapid technological changes that characterize it. While data and its timely analysis are key to effective policy-making, we do not yet have adequate statistical images capturing changes in productivity and growth brought about by the information technology revolution. This report on a STEP workshop highlights the need for more information and the challenges faced in measuring the New Economy and sustaining its growth.Table of ContentsFront MatterI. Executive SummaryII. Introduction III. Proceedings IntroductionWelcome to the New EconomyPanel I: Defining and Measuring the New EconomyRaising the Speed Limit: U.S. Economic Growth in the Information AgePanel II: Drivers of the New EconomySemiconductors: The Arrival of the New EconomySemiconductors: Economics of the New EconomyMicroprocessors and Computers: Five TrendsMicroprocessors and Computers: The Phenomenon of Price DeclinesPanel III: Communications and SoftwareCommunicationsSoftware: The Challenge to Getting TherePanel IV: Applications and Policy IssuesCommunicationsEconomic Issues of E-BusinessE-Business Policy IssuesInvestments in Information Technology ApplicationsOld Business to E-Business: The Change DynamicPanel V: Roundtable Discussion IV. AppendicesA. Raising the Speed Limit: U.S. Economic Growth in the Information AgeB. Biographies of SpeakersC. Participants ListD. Bibliography