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The New Economy ; What Is Really New?

  • Horst Siebert
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    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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    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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    1. 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.
    2. Brynjolfsson, Erik. & Hitt, Lorin M., 1995. "Paradox lost? : firm-level evidence on the returns to information systems spending," Working papers 3786-95., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    3. Jonathan Coppel, 2000. "E-Commerce: Impacts and Policy Challenges," OECD Economics Department Working Papers 252, OECD Publishing.
    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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