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By Martin Zagler, Marcel Jensen, Dale Jorgenson, Ulrike Mühlberger, Hank Thomassen, Brigitte Unger and Robert Willig


The aim of this paper is to explain the stylized facts of the new economy. Apart from the well-known facts such as the sectoral shift towards services, international differences in development, the emergence of innovation networks, an inflation rate below its fundamentals, low productivity rates but high rates of economic growth, one of the most startling aspects the emergence of new forms of flexible work contracts. This paper explains the emergence of these new job types as the result of a shift towards the service sector, with fundamental differences, namely its complementary role in production, the product heterogeneity, namely the intrinsic low rates of productivity, and the low durability of its products

Topics: Search Frictions, Service Sector, New Forms of Work, Dependent Self-employment, Boundaries of the Firm. JEL-Codes, J23, J21, O41, L80, O33
Year: 2002
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