Is there a "new economy"? Effects on the American production potential

The high growth rates of American GDP in recent years have raised the question of whether this was "only" a result of the strong cyclical boom or whether the long-term growth rates of production potential have also increased. Numerous commentators support the thesis that the "new-economy" effects have induced a permanent thrust of economic growth. An analysis of the growth rates of the American economy over the past five decades with the help of an econometric time-series model indicates however that America experienced a cyclical boom in the 1990s that is now coming to an end.