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《国际经济评论》2001年第1期刊登余永定的《2000-2001年世界经济形势回顾与展望》。文章认为美国经济在2000-2001年存在两大问题。一是股市动荡。在过去数年中,许多经济学家对美国股市严重的泡沫一再发出警告。但是,美国股市不但没有出现暴跌反而不断攀升。一些经济学家为此提出了“新经济”的观点。认为美国经济在90年代已发生了根本的变化,由于新经济的出现,美国的潜在经济增长率和公司未来的赢利潜力大大提高,因而传统的市赢率水平不能再作为衡量股票价格的尺度。最近几年,越来越多的经济学家接受了这一观点。但是,在2000年,美国股市却频繁出现大幅震荡。道—琼
International Economic Review, No. 1, 2001 Yu Yongding’s “Review and Prospect of the World Economic Situation 2000-2001” was published. The article holds that the U.S. economy has two major problems in 2000-2001. First, the stock market turmoil. In the past few years, many economists have repeatedly warned of a serious bubble in the U.S. stock market. However, the U.S. stock market not only continued to plunge but rose continuously. To this end some economists put forward the view of “new economy.” He believes that the U.S. economy has undergone fundamental changes in the 1990s. With the advent of the new economy, the potential economic growth rate in the United States and the future profitability of the company have risen greatly. Therefore, the traditional level of market equity can no longer be used as a measure of the stock price. In recent years, more and more economists have accepted this view. However, in 2000, the U.S. stock market was subject to frequent and drastic fluctuations. Road - Joan