The 'New Economy': Myths and Realities
15 Pages Posted: 26 Jul 2005
In this speech, Sushil B Wadhwani, argues that the 'new economy' has changed some of the underlying relationships that we rely on for purposes of monetary policy, and also has important implications for the appropriate measurement of the capital stock and GDP. However, some of the other claims that have been made for the 'new economy' are shown to be too extravagant.
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