The New Economy: Myths and Realities-Wadhwani

SPEECH - In his Travers Lecture at the London Guildhall University on Mar 20, 2001, Sushil Wadhwani, an external member of the Bank of England monetary policy committee, argues it is possible that measurement issues have led forecasters to overestimate inflationary pressures in the UK economy in recent years.

Dr Wadhwani says that, for example, alternative assumptions about the measurement of investment in computers and software might, on some preliminary estimates, increase measured productivity

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