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Keywords:Information technology 

Conference Paper
Macroeconomic implications of the new economy : commentary

Proceedings - Economic Policy Symposium - Jackson Hole

Conference Paper
Economic policy for the information economy : a summary of the Bank's 2001 Economic Symposium

Proceedings - Economic Policy Symposium - Jackson Hole

Journal Article
The Tech Pulse Index: recent trends in tech-sector activity

This Economic Letter introduces the new Tech Pulse Index, a measure that tracks economic activity in the U.S. information technology (IT) sector. The index first appeared under the sponsorship of the Federal Reserve Bank of New York; due to substantial revisions of the econometric model and source data used in the current version, it is not directly comparable to versions released by the New York Fed before August 2008. Starting January 14, 2009, the index will be published every second Wednesday of the month by the San Francisco Fed's CSIP (Center for the Study of Innovation and ...
FRBSF Economic Letter

Report
Productivity growth and the \\"new economy\\"

Annual Report

Conference Paper
Economic policy for the information economy : general discussion : overview panel

Proceedings - Economic Policy Symposium - Jackson Hole

Report
Have financial markets become more informative?

The finance industry has grown. Financial markets have become more liquid. Information technology has improved. But have prices become more informative? Using stock and bond prices to forecast earnings, we find that the information content of market prices has not increased since 1960. The magnitude of earnings surprises, however, has increased. A baseline model predicts that as the efficiency of information production increases, prices become more disperse and covary more strongly with future earnings. The forecastable component of earnings improves capital allocation and serves as a direct ...
Staff Reports , Paper 578

Conference Paper
The new economy : background, historical perspective, questions, and speculations : commentary

Proceedings - Economic Policy Symposium - Jackson Hole

Working Paper
IT investment and Hicks' composite-good theorem: the U.S. experience

We study whether aggregation residuals in U.S. private investment in information technology (IT) exhibit a predictable pattern that is consistent with Hicks' composite-good theorem and that may be used for forecasting. To determine whether one can extract such a pattern, we apply the general-to-specific strategy developed by Krolzig and Hendry (2001). This strategy combines ordinary least squares with a computer-automated algorithm that selects a specification based on coefficients' statistical significance, residual properties, and parameter constancy. Then, we derive the testable ...
International Finance Discussion Papers , Paper 767

Journal Article
Preparing for the 21st century economy.

After 30 years of university teaching and almost five years as a Reserve Bank president, Anthony M. Santomero knows the importance of education to a well-functioning economy. In recent years, he has seen several broad, long-term trends emerge-trends that will undoubtedly shape our environment and our economic fortunes. In "Preparing for the 21st Century Economy," he talks about two trends he deems to be of particular importance. First is the steady increase in international trade that has spilled over from the second half of the 20th century into the new millennium. Second is the ...
Business Review , Issue Q1 , Pages 1-6

Journal Article
Economic policy for the information economy : a summary of the Bank's 2001 Economic Symposium

The economies of the industrialized countries are being reshaped by the rapid development and diffusion of advanced information and communications technologies. Access to information is unprecedented, and the ability to process and exchange information has helped businesses increase efficiency and households raise their standards of living. There has been considerable agreement as to the broad features of the emerging information economy. But there has been less consensus on the likely magnitude and significance of the economic effects or on the important policy issues raised by these ...
Economic Review , Volume 86 , Issue Q IV , Pages 5-27

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