This article looks at the economic impact of electrification in the United States to gain insights about the possible consequences of today’s information technologies. A close study reveals that electrification significantly raised productivity growth by spurring a redesign of the optimal...

This article argues that an effective way to analyse the macroeconomic effects of business-to-business electronic commerce is to regard it as a decline in the cost of information to producers. Calculations based on input-output tables and the IMF’s Multimod macroeconomic model show that...