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Is there evidence of the new economy in U.S. GDP data?

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  • Michael A. Kouparitsas

Abstract

This article tests whether the trend growth rate of U.S. GDP changed significantly over the "new economy" period from 1996 to 2003. Based on estimates from widely used methods of trend/cycle decomposition, the author finds that the trend growth rate of GDP was not significantly higher over this period. This suggests that the U.S. was the same old economy in the latter half of the 1990s.

Suggested Citation

  • Michael A. Kouparitsas, 2005. "Is there evidence of the new economy in U.S. GDP data?," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 29(Q I), pages 12-29.
    • Handle: RePEc:fip:fedhep:y:2005:i:qi:p:12-29:n:v.29no.1
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    References listed on IDEAS

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    Cited by:

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    2. Richard G. Anderson & Kevin L. Kliesen, 2011. "How does the FOMC learn about economic revolutions? evidence from the New Economy Era, 1994-2001," Working Papers 2011-041, Federal Reserve Bank of St. Louis.
    3. Rose, Gus & Kingwell, Ross S., 2009. "Seasonal labour is the most profitable use of labour in broadacre crop dominant farms," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 47947, Australian Agricultural and Resource Economics Society.

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    Keywords

    Gross domestic product; Economics;

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