Measuring the New Economy (PDF)

This paper provides background information on the new economy and how it relates to BEA’s economic accounts. It is designed to answer the following questions:

  • What is the new economy?
  • Why is it important that the new economy be captured in GDP and BEA’s other economic accounts estimates?
  • What do we know now about the size and impact of the new economy?
  • Where does the new economy show up in the accounts?
  • How well is the new economy recorded in the accounts?
  • What should be BEA’s highest priority in improving the capacity of the accounts to measure the new economy?

Presented at the May 5, 2000 meeting of the BEA Advisory Committee

J. Steven Landefeld and Barbara M. Fraumeni