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Digital Economy 2000

Reports
The U.S. economic expansion is now in its tenth year, showing no signs of slowing down. The rate of labor productivity growth has doubled in recent years, instead of falling as the expansion matured as in previous postwar expansions. Moreover, core inflation remains low despite record employment and the lowest jobless rates in a generation. Our sustained economic strength with low inflation...

The Economics of Y2K and the Impact on the United States

Reports
As a result of programming decisions made during their creation, computer software and hardware may not recognize the Year 2000 accurately, causing operational errors. This report assesses the economic implications of this Y2K problem for the U.S. economy. The Department of Commerce’s Economics and Statistics Administration reviewed how firms and governments should be expected to react in the face...

The Emerging Digital Economy II

Reports
Electronic commerce (business transactions on the Web) and the information technology (IT) industries that make “e-commerce” possible are growing and changing at breathtaking speed, fundamentally altering the way Americans produce, consume, communicate and play.

1997 Economic Census: Advance Summary Statistics for the United States 1997 NAICS Basis

Reports
This report, from the 1997 Economic Census, is one of a series of four Core Business Statistics Series of reports, each of which provides statistics for individual industries and/or states. The first report, the Advance report, presents advance data at the two- and three-digit North American Industry Classification System (NAICS) levels and at the division and two-digit Standard Industrial...

The Emerging Digital Economy

Reports
During the past few years, the United States economy has performed beyond most expectations. A shrinking budget deficit, low-interest rates, a stable macroeconomic environment, expanding international trade with fewer barriers and effective private-sector management are all credited with playing a role in this healthy economic performance.

Re-Examining the Cost-of-Living Index and the Biases of Price Indices

Reports
The U.S. CPI is based on the Laspeyres price index, an index type that has an upward "substitution bias." Thus, the CPI tends to overstate increases in the cost of living. To address this bias, the Advisory Commission to Study the Consumer Price Index recommended adopting for the CPI a "superlative" price index, e.g., the Fisher or Tornqvist indices. Under the assumption of homothetic preferences,...

International Competitiveness: Labor Productivity Leadership and Convergence Among 14 OECD Countries

Reports
From 1970 through 1991, the United States led other OECD countries in overall labor productivity, a key measure of national competitiveness. During this period, labor productivity in these countries converged, both towards the mean OECD labor productivity and the U.S. level of labor productivity. This suggests living standards among the OECD countries are becoming more alike. In the latter half of...

Structural Change in the U.S. Banking Industry: The Role of Information Technology

Reports
Commercial bank investment in information technology (IT) equipment has grown rapidly, from $104 million in 1960 to more than $10 billion in 1994. These investments in “hard” technologies (computer hardware, software, telecommunications equipment, etc.) have been accompanied by increases in "soft" technologies, for example, complex financial innovations that were infeasible on a large scale...