There is no proof that a new paradigm of economic theory has been enthroned, rending old economic laws invalid. According to followers of the new paradigm, knowledge creation transformed into new products of information industries should bring increasing returns, accelerate growth to rates...

The aim of this article is to analyze trends of business cycle in the past decades. The main issues are following. Reasons of declining in economic activities. Special features of the postwar cycles. Causes of long-run changes in business cycle. Countercyclical policies. Impacts elements of new...

Proposed article is focused on new economy and its significance in global processes. Comming from theoretic opinions of economic prominents authors emphasize its impact on makro- and mikroeconomics while focusing on its effect on economic growth. In comparison with old economy, article mentions...

This paper studies the impact of the information and communication technologies (ICT) on U.S. economic growth using a dynamic general equilibrium approach. We use a production function with six different capital inputs, three of them corresponding to ICT assets and other three to non-ICT assets....

This paper evaluates the consequences of accelerated technical progress for monetary transmission and the speed of adjustment in the real economy. With a decreasing service life, the long term rate relevant to real demand will resemble more closely the money market rate. We make the investment...

The new economy is a technological revolution involving the information and communication technologies which affects almost all aspects of the economy, business, and our personal lives. The problems it raises for businesses are not radically new, least of all from an ethical viewpoint. However,...

The economic development in the United States has been very successful over the past decade, with high economic growth being accompanied by relatively low inflation. This article explores this development, comparing the economy of the United States with that of the EMU. In addition, it considers...

We study the implications of ownership and its induced incentives on firm performance for young and high-tech firms. Using a unique data set of all 341 firms listed on the Neuer Markt, the German counterpart of the NASDAQ, our results differ from studies on more traditional firms. Ownership by...

Proponents of the so-called New Economy claim that it entails a structural change of the economy. Such a change, in turn, would require the central bank to rethink its monetary policy to the extent that traditional relationships between inflation and economic growth are no longer valid. But such...

The necessity to identify a new agenda for economic science results from the specific feature of this discipline and the insufficiencies of traditional approaches generated by the limits of the classic economic theories, from the necessary reevaluations in the national circumstances context and...