The new economy - what is really new?

Horst Siebert

No 1000, Kiel Working Papers from Kiel Institute for the World Economy

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: IT products; productivity effects; impact on growth and on labor; regulation; taxation; new technology (search for similar items in EconPapers)
JEL-codes: D0 D2 E1 J2 (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:1000

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