Some New Economy Lessons for Macroeconomists

Karl Whelan ()

No 2002012, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: The evidence on U.S. investment in high-tech equipment and labor productivity in the 1990s is briefly reviewed and some implications discussed. First, capturing the role of information technologies has raised a number of important measurement issues, which have led to a change in the construction of aggregate real series in the U.S. national accounts, such as real GDP. Second, the recent period provided an important confirmation for traditional neoclassical theories of business investment and productivity. Third, there is a discussion of what type of theoretical and empirical models of economic growth are likely to prove helpful in the future.

Keywords: New Economy; Information Technologies (search for similar items in EconPapers)
JEL-codes: E10 E22 O40 (search for similar items in EconPapers)
Pages: 16
Date: 2002-03-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Some New Economy Lessons for Macroeconomists (2002)
Working Paper: Some new economy lessons for macroeconomists (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvre:2002012

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