After reviewing the state of digitalization---the use of digital information technology (IT) throughout the economy---we consider the slippery concept of a distinct digital economy and efforts to record it in national accounts. We then anchor the digital economy in a growth accounting framework,...

Given the slow growth of labor productivity in recent years, some have argued that the boost from information technology may have run its course Our analysis points to a less pessimistic conclusion While projections of economic developments are always difficult, our judgment is that "No, the...

Given the slowdown in labor productivity growth in the mid-2000s, some have argued that the boost to labor productivity from IT may have run its course. This paper contributes three types of evidence to this debate. First, we show that since 2004, IT has continued to make a significant...