Economic policy for the information economy: a summary of the Bank's 2001 economic symposium / Craig S. Hakkio -- Opening remarks / Alan Greenspan -- The "new economy": background, historical perspective, questions, and speculations / J. Bradford DeLong and Lawrence H. Summers. Commentary /...

We study the impact of technology on the reaction of financial markets to information, focusing on the foreign exchange market. We contrast the 'thin-skinned' view that technological improvements cause markets to react more to new information with the 'thick-skinned' view that they react less....