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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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References

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Citations

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Cited by:
  1. Attfield, Clifford & Temple, Jonathan, 2004. "Measuring Trend Output: How Useful Are the Great Ratios?," CEPR Discussion Papers 4796, C.E.P.R. Discussion Papers.
  2. Gavin Cameron & Chris Wallace, 2002. "Macroeconomic Performance in the Bretton Woods Era, And After," Economics Series Working Papers 130, University of Oxford, Department of Economics.
  3. Guellec, Dominique & Pottelsberghe de la Potterie, Bruno van, 2003. "From R&D to Productivity Growth: Do The Institutional Setting and The Source of Funds of R&D Matter?," IIR Working Paper 03-26, Institute of Innovation Research, Hitotsubashi University.
  4. Attfield, Cliff & Temple, Jonathan R.W., 2010. "Balanced growth and the great ratios: New evidence for the US and UK," Journal of Macroeconomics, Elsevier, vol. 32(4), pages 937-956, December.
  5. Fernando Alexandre, 2002. "Monetary Policy, Investment and Non-Fundamental Shocks," NIPE Working Papers 6/2002, NIPE - Universidade do Minho.
  6. 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 09, Society for Computational Economics.
  7. Mariano Sana, 2010. "Immigrants and natives in U.S. science and engineering occupations, 1994–2006," Demography, Springer, vol. 47(3), pages 801-820, August.
  8. Jonathan Temple & Cliff Attfield, 2004. "Measuring trend growth: how useful are the great ratios?," Money Macro and Finance (MMF) Research Group Conference 2003 101, Money Macro and Finance Research Group.
  9. David, Freshwater, 2013. "Modernizing Rural Economies: Strengthening Economic Growth in the 21st Century," Staff Papers 174107, University of Kentucky, Department of Agricultural Economics.

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