Bullard, James Brian (contributor); … - 2003 - [Elektronische Ressource]
issue is the more recent improvement in U.S. productivity
growth during the 1990s, the so-called “new economy.” To the … new economy in
the 1990s does lead to disinflation, but the model still misses the sharp disinflation
of the early 1980s … productivity slowdown.
We also include an increase in productivity growth (the “new economy”) beginning
in the third quarter of …