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...

A considerable amount has been written about the impact of EMU on European financial markets. A broad consensus has emerged from this work, with the main conclusions as follows: Government bond markets will be more closely integrated and yields closely correlated. Non-government borrowers will...