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New Economy |
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New EconomyThis term was used in the late 1990's to suggest that globalization and/or innovations in information technology had changed the way that the world economy works. Conjectures included changes in productivity, the inflation-unemployment tradeoff, the business cycle, and the valuation of enterprises.Similar MatchesOpen-economy multiplierOpen-economy multiplierThe simple Keynesian multiplier for a small open economy. Equals 1/(s+m), where s is the marginal propensity to save and m is the marginal propensity to import. Closed economyClosed economyAn economy that does not permit economic transactions with the outside world; a country in autarky. Mature economyMature economyThe economy of a nation with a stable population and slowing economic growth. Ministry of Economy, Trade and IndustryMinistry of Economy, Trade and IndustryThe Japanese government ministry that deals with economic issues, including the vitality of the private sector, external economic relations, energy policy, and industrial development. Market economyMarket economyA country in which most economic decisions are left up to individual consumers and firms interacting through markets. Contrasts with central planning and non-market economy. Further SuggestionsMixed economyPure exchange economy old economy stocks Political economy Small open economy Non-market economy Goldilocks economy Bubble economy Barter economy Goldilocks economy Emerging economy Integrated World Economy External diseconomy Tiger economy Command economy black economy Newly Industrializing Economy Radical political economy Political economy of protection Open economy External economy |
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