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To: Stefan who wrote (45415)	6/7/1999 3:41:00 PM
From: BGR	Respond to of 86076

Stefan, This is my hypotheses short-list: 1. Productivity growth from past investments. 2. International trade at improved levels. 3. Internet and related technology which may bring about improved efficiency and price stability in the future. 4. Other advancements in communications (broadband), s/w (like SCM and ERP which has potential to improve productivity further) and business models (business to business eCommerce) arena. I am sure that I am overlooking several other factors. -BGR.