Writings and Presentations on the "New Economy"

 

Study of the Performance of Computers over the Last Century

    "The Progress of Computing," version 4.3, September, 2001. Click here for a pdf version.


Legal Briefs

     Amicus Brief on the Remedy Phase of U.S. v. Microsoft, April 2000.

      Amicus Brief on Rehearing of Remedy Phase of U.S. v. Microsoft, January, 2002.

    Amicus Brief on Cost-Benefit Analysis, August 2000.

   

 

Conference and Seminar Presentations

    Speech on the New Economy at the White House Conference on the New Economy, April 7, 2000

    "Policy Rules in the New Economy," Paper prepared for a joint meeting sponsored by the Senate Budget Committee and the Congressional Budget Committee, June 5, 2000

   

Background Papers

"Technology, Economic Growth, and the New Economy," Background paper prepared for a conference on "R&D and the New Economy," Norskopping, Sweden, June 13, 2000: click here .

"Alternative Methods for Measuring Productivity Growth Including Approaches When Output is Measured With Chain Indexes ," June 24, 2002. A study which reviews different approaches to measuring productivity growth and concludes that current approaches are incorrectly designed.  For Word, click here .  For pdf, click here .

"New Data and Output Concepts for Understanding Productivity Trends," November 6, 2000. A study which describes a new data set for measurement of productivity growth. The data are based on income-side measures rather than the traditional output-side measures. Click here for WordPerfect. For a pdf file, click here .

"Productivity Growth and the New Economy," September 2002. (To appear in Brookings Papers on Economic Activity). This study addresses issues in the measurement of productivity growth. The major findings are as follows. First, this study analyzes a new data set by detailed industry. The new data set develops data on total output, business sector output, and “well-measured” output. Second, there has clearly been a rebound in labor-productivity growth in recent years. All three sectoral definitions show a major acceleration in labor productivity in the last five years of the period (1996-2000) relative to the 1978-95 period. The rebound was 1.04 percentage points for income-side GDP, 1.61 percentage points for business sector, and 1.29 percentage points for well-measured output. Third, productivity growth in the new economy sectors has made a significant contribution to economy-wide productivity growth. For the total economy, of the 1.04percentage point increase in labor-productivity growth in the last three years, 0.27 percentage point was due to the new-economy sectors. Finally, for all three output measures, there has been a substantial upturn in labor-productivity growth outside the new economy. After removing the direct effect of new economy sectors, the productivity acceleration was 0.76percentage points for total GDP, 1.32 percentage points for business output, and 0.74 percentage points for well-measured output. It is clear that the productivity rebound is not narrowly focused in a few new-economy sectors. For a pdf file, click here .