The New Economy � What Is Really New?
AbstractThis paper analyzes some of the elements of the new economy. What is really new is first of all the technological innovation. In economic terms what is new is a new product. The new IT product brought about by the new technology means two different things: a new device to handle data and to communicate and a new good "information". This should lead to an increase of productivity, to a larger production potential and to a higher growth rate. The new economy has implications for capital markets and especially for labor. Major issues are regulation and taxation.
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1000.
Length: 39 pages
Date of creation: Aug 2000
Date of revision:
New technology; IT products; productivity effects; impact on growth and on labor; regulation; taxation;
Find related papers by JEL classification:
- D0 - Microeconomics - - General
- D2 - Microeconomics - - Production and Organizations
- E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
- J2 - Labor and Demographic Economics - - Demand and Supply of Labor
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