We present a new econometric model of aggregate demand and labor supply for the United States. We also analyze the allocation full wealth among time periods for households distinguished by a variety of demographic characteristics. The model is estimated using micro-level data from the Consumer...

It is widely recognized that information technology was critical to the dramatic acceleration of U.S. labor productivity growth in the mid 1990s. This paper traces the evolution of productivity estimates to document how and when this perception emerged. Early studies concluded that information...

This paper analyzes the impact of investment in information technology (IT) on the recent resurgence of world economic growth. We describe the growth of the world economy, seven regions, and 14 major economies during the period 1989-2004. We allocate the growth of world output between input...

A powerful surge in investment in information technology and equipment after 1995 characterizes all of the G7 economies. This accounts for a large portion of the resurgence in US economic growth, but contributes substantially to economic growth in the remaining G7 economies as well. Another...

Official U.S. poverty statistics based on household income imply that the proportion of the U.S. population below the poverty level reached a minimum in 1973, giving rise to the widespread impression that the elimination of poverty is impossible. By contrast, poverty estimates based on household...

A New Architecture for the U.S. National Accounts brings together a distinguished group of contributors to initiate the development of a comprehensive and fully integrated set of United States national accounts. The purpose of the new architecture is not only to integrate the existing systems of...

FrontMatter -- Contents -- Preface -- I PROCEEDINGS -- Welcome -- Introduction -- Panel I Productivity Trends in the Semiconductor Industry -- Panel II Cyclicality: Comparisons by Industry -- Luncheon Address: The Industry Perspective on Semiconductors -- Panel III Economic Growth and...