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An Assessment of the New Economy

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  • Jonathan Temple

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Abstract

The remarkable economic success of the United States in the 1990s led many observers to talk about a "New Economy". This paper provides an overview of the main issues, including faster productivity growth, the stability of inflation despite very low unemployment, the reduction in output volatility, the role of monetary policy, and the boom in the stock market. The paper also considers whether or not the acceleration in productivity growth can be sustained, and the possible implications for the rest of the world.

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File URL: http://www.efm.bris.ac.uk/www/ecjrwt/abstracts/jtnewecon.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Bristol, UK in its series Bristol Economics Discussion Papers with number 02/542.

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Length: 24 pages
Date of creation: Sep 2002
Date of revision:
Handle: RePEc:bri:uobdis:02/542

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Keywords: new economy; economic growth; stock market; monetary policy;

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Cited by:
  1. Dominique Guellec & Bruno Van Pottelsberghe, 2004. "From R&D to Productivity Growth: Do the Institutional Settings and the Source of Funds of R&D Matter?," Working Papers CEB, ULB -- Universite Libre de Bruxelles 04-010.RS, ULB -- Universite Libre de Bruxelles.
  2. Mariano Sana, 2010. "Immigrants and natives in U.S. science and engineering occupations, 1994–2006," Demography, Springer, Springer, vol. 47(3), pages 801-820, August.
  3. David, Freshwater, 2013. "Modernizing Rural Economies: Strengthening Economic Growth in the 21st Century," Staff Papers, University of Kentucky, Department of Agricultural Economics 174107, University of Kentucky, Department of Agricultural Economics.
  4. Gavin Cameron & Chris Wallace, 2002. "Macroeconomic Performance in the Bretton Woods Era, And After," Economics Series Working Papers, University of Oxford, Department of Economics 130, University of Oxford, Department of Economics.
  5. Cliff L.F. Attfield & Jonathan R.W. Temple, 2003. "Measuring trend output: how useful are the Great Ratios?," Bristol Economics Discussion Papers, Department of Economics, University of Bristol, UK 03/555, Department of Economics, University of Bristol, UK.
  6. Cliff L. F. Attfield & Jonathan R. W. Temple, 2006. "Balanced growth and the great ratios: new evidence for the US and UK," Centre for Growth and Business Cycle Research Discussion Paper Series, Economics, The Univeristy of Manchester 75, Economics, The Univeristy of Manchester.
  7. Jonathan Temple & Cliff Attfield, 2004. "Measuring trend growth: how useful are the great ratios?," Money Macro and Finance (MMF) Research Group Conference 2003, Money Macro and Finance Research Group 101, Money Macro and Finance Research Group.
  8. Alistair Dieppe & Jerome Henry & Peter Mc Adam, . "Labour market dynamics in the euro area: A model-based sensitivity analysis," Modeling, Computing, and Mastering Complexity 2003, Society for Computational Economics 09, Society for Computational Economics.
  9. Fernando Alexandre, 2002. "Monetary Policy, Investment and Non-Fundamental Shocks," NIPE Working Papers, NIPE - Universidade do Minho 6/2002, NIPE - Universidade do Minho.

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