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Measuring the New Economy: An International Comparative Perspective

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  • van Ark, Bart

Abstract

The advances made in the production and use of information and communication technology (ICT) during the past decades may have potentially large effects for long term economic growth. Indeed the substantial acceleration in real GDP growth in many OECD countries, but in particular in the United States, during the second half of the 1990s has led to suggestions that a "new economy" has emerged. In this new economy the old economic rules were supposed to have become invalid. For example, traditional concerns about the limits of maximum production capacity might disappear as the marginal costs of producing ICT goods and services are virtually nil. Moreover, the trade-off between inflation and unemployment could be reduced due to a more efficient inventory management. Copyright 2002 by The International Association for Research in Income and Wealth.

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Bibliographic Info

Article provided by International Association for Research in Income and Wealth in its journal Review of Income & Wealth.

Volume (Year): 48 (2002)
Issue (Month): 1 (March)
Pages: 1-14

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Handle: RePEc:bla:revinw:v:48:y:2002:i:1:p:1-14

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Cited by:
  1. Engelbrecht, Hans-Jurgen & Xayavong, Vilaphonh, 2006. "ICT intensity and New Zealand's productivity malaise: Is the glass half empty or half full?," Information Economics and Policy, Elsevier, vol. 18(1), pages 24-42, March.
  2. Engelbrecht, Hans-Jurgen & Xayavong, Vilaphonh, 2004. "Information And Communication Technology And New Zealand'S Productivity Malaise: An Industry-Level Study," Discussion Papers 23698, Massey University, Department of Applied and International Economics.
  3. Bellone Flora, 2005. "IT adoption and spatial agglomeration - a model of cumulative adoption in a small open economy," ERSA conference papers ersa05p731, European Regional Science Association.
  4. Raquel Ortega-Argil├ęs, 2012. "The Transatlantic Productivity Gap: A Survey Of The Main Causes," Journal of Economic Surveys, Wiley Blackwell, vol. 26(3), pages 395-419, 07.
  5. Ilmakunnas, Pekka & Miyakoshi, Tatsuyoshi, 2013. "What are the drivers of TFP in the Aging Economy? Aging labor and ICT capital," Journal of Comparative Economics, Elsevier, vol. 41(1), pages 201-211.
  6. Derek D. Headey & D.S. Prasada Rao & Mohammad Alauddin, 2005. "Explaining Agricultural Productivity Levels and Growth: An International Perspective," CEPA Working Papers Series WP022005, School of Economics, University of Queensland, Australia.
  7. Meijers, Huub, 2006. "Diffusion of the Internet and low inflation in the information economy," Information Economics and Policy, Elsevier, vol. 18(1), pages 1-23, March.
  8. Sang-Yong Tom Lee & Xiao Jia Guo, 2004. "Information and Communications Technology (ICT) and Spillover: A Panel Analysis," Econometric Society 2004 Far Eastern Meetings 722, Econometric Society.

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