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The New Economy � What Is Really New?

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  • Horst Siebert
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    Abstract

    This 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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    File URL: https://www.ifw-members.ifw-kiel.de/publications/the-new-economy-what-is-really-new/kap1000.pdf
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    Bibliographic Info

    Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1000.

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    Length: 39 pages
    Date of creation: Aug 2000
    Date of revision:
    Handle: RePEc:kie:kieliw:1000

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    Related research

    Keywords: New technology; IT products; productivity effects; impact on growth and on labor; regulation; taxation;

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    References

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    1. Jonathan Coppel, 2000. "E-Commerce: Impacts and Policy Challenges," OECD Economics Department Working Papers 252, OECD Publishing.
    2. Erik Brynjolfsson & Lorin Hitt, 1996. "Paradox Lost? Firm-Level Evidence on the Returns to Information Systems Spending," Management Science, INFORMS, vol. 42(4), pages 541-558, April.
    3. Andrea Bassanini & Stefano Scarpetta & Ignazio Visco, 2000. "Knowledge technology and economic growth: recent evidence from OECD countries," Working Paper Research 06, National Bank of Belgium.
    4. Erik Brynjolfsson & Shinkyu Yang, 1997. "Information Technology and Productivity: A Review of the Literature," Working Paper Series 202, MIT Center for Coordination Science.
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    Citations

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    Cited by:
    1. Gern, Klaus-Jürgen & Gottschalk, Jan & Kamps, Christophe & Sander, Birgit & Scheide, Joachim & Strauß, Hubert, 2000. "Weltwirtschaft unter Volldampf," Open Access Publications from Kiel Institute for the World Economy 2499, Kiel Institute for the World Economy (IfW).
    2. Klodt, Henning, 2001. "Die neue Ökonomie : Aufbruch und Umbruch," Open Access Publications from Kiel Institute for the World Economy 2575, Kiel Institute for the World Economy (IfW).
    3. Laaser, Claus-Friedrich & Soltwedel, Rüdiger, 2001. "Raumstruktur und New Economy - zur Bedeutung von E-commerce für die Arbeitsteilung im Raum," Open Access Publications from Kiel Institute for the World Economy 2609, Kiel Institute for the World Economy (IfW).

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