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How Fast Can the New Economy Grow? A Bayesian Analysis of the Evolution of Trend Growth
This paper uses consumption data to estimate the trend growth rate for the “new economy. The analysis starts with the assumption that a trend break in GDP should be accompanied by a trend break in consumption.
Link
http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID275980_code010727670.pdf?abstractid=275980&mirid=1