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Endogenous Innovation in the Theory of Growth
Grossman, Gene M. - 1993
-run growth process. First, we review the implications of neoclassical growth theory and the more recent theories of 'endogenous …
Persistent link: https://www.econbiz.de/10012474415
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Localized and Biased Technologies : Atkinson and Stiglitz's New View, Induced Innovations, and Directed Technological Change
Acemoglu, Daron - 2014
. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological …
Persistent link: https://www.econbiz.de/10012458604
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Technology (and Policy) Shocks in Models of Endogenous Growth
Jones, Larry E. - 1999
Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies (Kormendi and Meguire (1985)) finding a positive relationship, while others (Ramey and Ramey (1995)) finding the a negative one. Our objective in this paper is to understand how fundamental...
Persistent link: https://www.econbiz.de/10012471733
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Financial Innovation and Endogenous Growth
Michalopoulos, Stelios - 2009
Is financial innovation necessary for sustaining economic growth? To address this question, we build a Schumpeterian … innovation: they can invent better methods for screening entrepreneurs. Second, every screening process becomes less effective as … technology advances. The model predicts that technological innovation and economic growth eventually stop unless financiers …
Persistent link: https://www.econbiz.de/10012463294
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Technological Growth and Asset Pricing
Gârleanu, Nicolae B. - 2009
In this paper we study the implications of general-purpose technological growth for asset prices. The model features two types of shocks: "small", frequent, and disembodied shocks to productivity and "large" technological innovations, which are embodied into new vintages of the capital stock....
Persistent link: https://www.econbiz.de/10012463310
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International Technology Diffusion
Keller, Wolfgang - 2001
I discuss the concept and empirical importance of international technology diffusion from the point of view of recent work on endogenous technological change. In this literature, technology is viewed as technological knowledge. I first review the major concepts, and how international technology...
Persistent link: https://www.econbiz.de/10012470145
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Accounting for Growth
Greenwood, Jeremy - 1998
A satisfactory account of the postwar growth experience of the United States should be able to come to terms with the following three facts: 1. Since the early 1970's there has been a slump in the advance of productivity. 2. The price of new equipment has fallen steadily over the postwar period....
Persistent link: https://www.econbiz.de/10012472163
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Population and Ideas : A Theory of Endogenous Growth
Jones, Charles I. - 1997
Why do economies exhibit sustained growth in per capita income? This paper argues that endogenous fertility and increasing returns to scale are the fundamental ingredients in understanding endogenous growth. Endogenous fertility leads the scale of the economy to grow over time. Increasing...
Persistent link: https://www.econbiz.de/10012472528
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Appropriate Technology and Growth
Basu, Susanto - 1996
We present a model of growth and technology transfer based on the idea that technologies are specific to particular combinations of inputs. We argue that this model is more realistic than the usual specification, in which an improvement in any technique for producing a given good improves all...
Persistent link: https://www.econbiz.de/10012472963
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Endogenous Technological Change
Romer, Paul - 1989
Growth in this model is driven by technological change that arises from intentional investment decisions made by profit maximizing agents. The distinguishing feature of the technology as an input is that it is neither a conventional good nor a public good; it is a nonrival, partially excludable...
Persistent link: https://www.econbiz.de/10012475827