The pandemic-induced lockdowns and the global recession of 2020 that followed have created a highly uncertain global outlook. Globalization is stalling, social cohesion is being eroded by unrest and political polarization, and the still-unfolding economic crisis is threatening the livelihoods of...

In the complex, fast-paced world, a multigenerational workforce requires employees to adopt new technology and customized learning. By tailor-making the learning programs and learning strategies, organizations may create a diverse work culture that helps retain millennial employees. Various...

Using a unique nationally representative sample of U.S. establishments surveyed in both 1993 and 1996, we examine the relationship between workplace innovations and establishment productivity and wages. Using both cross-sectional and longitudinal data, we find evidence that high-performance...

This paper seeks to understand the behavior of Greenspan's Federal Reserve in the late 1990s. Some authors suggest that the Fed followed a simple 'Taylor rule,' while others argue that it deviated from such a rule because it recognized that the 'New Economy' permitted an easing of policy. We...

Much productive activity that once took place within a single firm now occurs when two firms collaborate to produce a new product such as a drug or software program. The agreements that govern these collaborations are not enforceable contracts; they lack standard terms such as prices and...

Starting in the 1990s, the term “new economy” has become a popular buzzword to reflect the overall view that something has changed and that the economy now works differently. Few studies clearly define the term “new economy” and it seems to mean different things to different people....

Used properly, the term 'new e-conomy' is warranted. Since 1995, there has been a wave of innovation associated with both the production and use of information technology that has been translated into improved US economic performance. In particular, there has been a substantial acceleration in...

Das Tempo, mit dem sich Menschen und Unternehmen auf ständig wechselnde Bedingungen einstellen müssen, nimmt rasant zu. Das Rechnungswesen ist davon in besonderem Maße betroffen. Es muss Veränderungen frühzeitig erkennen und darauf reagieren, um andere Unternehmensbereiche mit den...

The economy and education -- How education became an economic priority -- Rethinking the place of normativity and prediction in economics and education -- Conflicting account of well-being and implications for education -- On what human behavior is and ought to be -- A new economic perspective...

Preface -- Introduction -- The unresolved deficiencies of the classical economic standard model and the failure of the theoretical model in practice -- Goods market -- Financial market -- Labor or service market -- The theory of the IS-LM curve and the IS-LM model -- Fundamental criticism of the...

The U.S. went through a remarkable structural transformation between 1800 and 2000. In 1800 the majority of people worked in agriculture. Barely anyone did by 2000. What caused the rapid demise of agriculture in the economy? The analysis here concentrates on the development of new consumer goods...

Using a unique nationally representative sample of U.S. establishments surveyed in 1993 and 1996, we examine the relationship between workplace innovations and establishment productivity and wages. We match plant level practices with plant level productivity and wage outcomes and estimate...

This book is based on the proceedings of the National Seminar organized by the University on this subject on April 23, 2016. The select papers on different topics relating to the theme, contributed by academicians representing various reputed institutions have been included in the book. The book...

The accelerated introduction of information and communications technology into the economy has created numerous challenges for policymakers. This paper describes this New Economy and then proceeds to examine difficulties created for policymakers. The increased flexibility of the new economy...

During the four years 1995-99 U. S. productivity growth experienced a strong revival and achieved growth rates exceeding that of the golden age' of 1913-72. Accordingly many observers have declared the New Economy' (the Internet and the accompanying acceleration of technical change in computers...

We study the effect of the NASDAQ systems integration on transaction costs, market quality and order characteristics. It is found that the NASDAQ Single Book, on average, has reaped a greater market share and lead to a more remarkable increase in less actively trade stocks. The quoted bid-ask...

Together with a sense of entering a New Economy, the US experienced in the second half of the 1990s an economic expansion, a stock market boom, a financing boom for new firms and productivity gains. In this paper, we propose an interpretation of these events within a general equilibrium model...

In December 2020, Nasdaq asked the Securities and Exchange Commission to approve new diversity rules. The aim is for most Nasdaq-listed firms to have at least one director self-identifying as female and another self-identifying as an underrepresented minority or LGBTQ+. While Nasdaq claims these...

Consumers are becoming increasingly more informed about food systems and are interested not only in healthy, safe, and tasty food but also sustainable production, animal welfare, climate changes, and food waste. Consumers are also more focused on changing their lifestyle related to improved...

Competition in many important industries centers on investment in intellectual property. Firms engage in dynamic, Schumpeterian competition for the market, through sequential winner-take-all races to produce drastic innovations, rather than through static price/output competition in the market....

It is often argued that 'new economy' jobs are less likely to use traditional employment relationships, and more likely to rely on 'alternative' or 'contingent' work. When we look at new economy jobs classified on the basis of employment in high-tech industries, we do not find greater use of...

Reviews of how federal agencies functioned during George W. Bush’s presidency reveal many instances of regulatory capture by industry. One prototypical example is the Occupational Safety and Health Administration (OSHA), the agency responsible for occupational safety and health (OSH) standard...

This article considers some of the theories and ways in which some modern scientists and economists have claimed that a "new economy" could emerge; the shift from manufacturing to services, technological transformation and flexible labour markets or telework. The advantages and disadvantages of...

The extension of information and communication technologies to economic activity is changing the labour market in important ways. This article shows that computerization and use of the Internet are associated with greater hours worked as well as higher wages; that IT occupations are rapidly...

The present study is the third in a series of three papers devoted to issues in the measurement of productivity and productivity growth. The major findings are as follows. First, this study shows that the new data set used here, which develops data on total output, business sector output, and...

During the Second Industrial Revolution, 1860-1900, many new technologies, including electricity, were invented. These inventions launched a transition to a new economy, a period of about 70 years of ongoing, rapid technical change. After this revolution began, however, several decades passed...

The rise of information technology and big data analytics has given rise to "the new economy." But are its economics new? This article constructs a growth model where firms accumulate data, instead of capital. We incorporate three key features of data: 1) Data is a by-product of economic...

As countries around the world battle the Coronavirus (COVID-19) pandemic, the importance of sharing and using data effectively has never been more apparent. Data collection and analysis tools for diagnostics, detection, and prediction are of critical importance to respond intelligently to this...

A growing body of literature over the past decade suggests that a firm's organizational structure/capital can contribute in significant ways to the productive capacity of a firm. But, as with other intangible assets, there is no consensus definition of what this organizational capital is, how to...

In an analytically tractable model of the global economy, we calculate the Pareto improvement where a country experiencing a favourable supply side shock consumes more against expected future output and spreads the risk by selling shares. With capital inflows to finance the 'New Economy'...

Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncrasies in financial markets, with bank-based financial markets as in...

Labor market performance has differed considerably between OECD countries over the last two decades. The focus of the literature so far has been to ask whether these differences can be explained by varying degrees of labor market rigidities and generosity of welfare states. This paper takes a...

The world is constantly changing nowadays. It can be said that we have entered the digital economy and society era, where digital technology is no longer just a tool to help with work. Every work process in manufacturing, commerce, and service, including interpersonal interactions and social...