An Assessment of the New Economy

34 Pages Posted: 22 Nov 2002

See all articles by Jonathan R.W. Temple

Jonathan R.W. Temple

Centre for Economic Policy Research (CEPR)

Date Written: October 2002


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 greater overall economic stability of the 1990s, 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.

Keywords: New Economy, productivity growth

JEL Classification: E66, O40, O51

Suggested Citation

Temple, Jonathan R.W., An Assessment of the New Economy (October 2002). CEPR Discussion Paper No. 3597. Available at SSRN:

Jonathan R.W. Temple (Contact Author)

Centre for Economic Policy Research (CEPR)

United Kingdom

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