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Furthermore, the term "new economy" is associated for them to possible consequences of the information economy and the digital economy, namely high growth, low inflation, and low unemployment.

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However, in many papers ? including the present one ? the concept of the "new economy" is wider and includes the characteristics of the "information economy" and of the "internet economy" as subsets...

In the following, the term "new economy" describes an economy where both final output and intermediate input predominantly consist of information and where the modern (digital) information and communication technologies provide world- wide access to almost any available information. These new technologies might have the potential to enable an increase in the productivity of conventional business practices, but also facilitate the establishment of new processes and products...

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