Kiel Working Papers, Kiel Institute for World Economics
No 1000:
The New Economy ; What Is Really New?
Horst Siebert
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.
Keywords: New technology, IT products, productivity effects, impact on growth and on labor, regulation, taxation; (follow links to similar papers)
JEL-Codes: D0; D2; E1; J2; (follow links to similar papers)
39 pages, August 2000
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