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 Contents Front Matter I. Executive Summary II. Introduction III. Proceedings Introduction Welcome to the New Economy Panel I: Defining and Measuring the New Economy Raising the Speed Limit: U.S. Economic Growth in the Information Age Panel II: Drivers of the New Economy Semiconductors: The Arrival of the New Economy Semiconductors: Economics of the New Economy Microprocessors and Computers: Five Trends Microprocessors and Computers: The Phenomenon of Price Declines Panel III: Communications and Software Communications Software: The Challenge to Getting There Panel IV: Applications and Policy Issues Communications Economic Issues of E-Business E-Business Policy Issues Investments in Information Technology Applications Old Business to E-Business: The Change Dynamic Panel V: Roundtable Discussion IV. Appendices A. Raising the Speed Limit: U.S. Economic Growth in the Information Age B. Biographies of Speakers C. Participants List D. Bibliography