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The Assessment: The New Economy

  • Jonathan Temple

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. Copyright 2002, Oxford University Press.

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Article provided by Oxford University Press in its journal Oxford Review of Economic Policy.

Volume (Year): 18 (2002)
Issue (Month): 3 ()
Pages: 241-264

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Handle: RePEc:oup:oxford:v:18:y:2002:i:3:p:241-264
Contact details of provider: Web page: http://oxrep.oupjournals.org/

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