After reviewing the state of digitalization---the use of digital information technology (IT) throughout the economy … digital economy in a growth accounting framework, augmenting the conventional measure of the IT contribution to productivity … that thwart a full accounting of the scope and productivity of the digital economy remain. These include quantifying the …

Digitalisation can be viewed as a major supply/technology shock affecting macroeconomic aggregates that are important … through a number of channels, including productivity, employment, competition and prices; (iii) digitalisation raises … productivity and lowers prices, similarly to other supply/technology shocks; (iv) this has implications for monetary policy and its …