Is there evidence of the new economy in U.S. GDP data?
AbstractThis article tests whether the trend growth rate of U.S. GDP changed significantly over the "new economy" period from 1996 to 2003. Based on estimates from widely used methods of trend/cycle decomposition, the author finds that the trend growth rate of GDP was not significantly higher over this period. This suggests that the U.S. was the same old economy in the latter half of the 1990s.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.
Volume (Year): (2005)
Issue (Month): Q I ()
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