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The Economics of Inefficient Technology Use
Beaudry, Paul - 2012
The adoption and diffusion of technological knowledge is generally regarded as a key element in a country's economic success. However, as is the case with most types of information, the transfer of technological knowledge is likely to be subject to adverse selection problems. In this paper we...
Persistent link: https://www.econbiz.de/10012755309
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Innovation, Competition and Welfare-Enhancing Monopoly
Darby, Michael R. - 2011
breakthrough innovations. So long as the entry and exit of firms using the generic technology sets the price in an industry, one or … innovators develop a stream of innovations so that technological leaders can maintain their status as dominant firm or monopolist …
Persistent link: https://www.econbiz.de/10012757081
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Ideas and Growth
Lucas, Robert E. - 2010
What is it about modern capitalist economies that allows them, in contrast to all earlier societies, to generate sustained growth in productivity and living standards? It is widely agreed that the productivity growth of the industrialized economies is mainly an ongoing intellectual achievement,...
Persistent link: https://www.econbiz.de/10012759108
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Democracy, Technology, and Growth
Aghion, Philippe - 2010
We explore the question of how political institutions and particularly democracy affect economic growth. Although empirical evidence of a positive effect of democracy on economic performance in the aggregate is weak, we provide evidence that democracy influences productivity growth in different...
Persistent link: https://www.econbiz.de/10012760042
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Creative Destruction in Industries
Jovanovic, Boyan - 2010
Most industries go through a quot;shakeoutquot; phase during which the number of producers in the industry declines. Industry output generally continues to rise, however, which implies a reallocation of capacity from exiting firms to incumbents and new entrants. Thus shakeouts seem to be classic...
Persistent link: https://www.econbiz.de/10012760646
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Capital Deepening and Non-Balanced Economic Growth
Acemoglu, Daron - 2010
This paper constructs a model of non-balanced economic growth. The main economic force is the combination of differences in factor proportions and capital deepening. Capital deepening tends to increase the relative output of the sector with a greater capital share, but simultaneously induces a...
Persistent link: https://www.econbiz.de/10012760696
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Quality Change in Capital Goods and its Impact on Economic Growth
Hulten, Charles R. - 2010
This paper argues that productivity puzzles like the Solow Paradox arise, in part, from the omission of an important dimension of the debate: the resource cost of achieving a given rate of technical change. A remedy is proposed in which a new parameter, defined as the cost elasticity of...
Persistent link: https://www.econbiz.de/10012763692
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Macroeconomic Convergence : International Transmission of Growth and Technical Progress
Helliwell, John F. - 2009
by changes in a country's openness to trade, are evaluated against competing alternatives. We also assess the extent to … evidence that convergence is faster for countries that have been increasing their openness to international trade. A more …
Persistent link: https://www.econbiz.de/10012767097
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The Time Varying Volatility of Macroeconomic Fluctuations
Primiceri, Giorgio E. - 2009
the structural innovations. We apply our estimation strategy to a large-scale model of the business cycle and find that …
Persistent link: https://www.econbiz.de/10012767428
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Trade, Technology, and the Great Divergence
O'Rourke, Kevin - 2019
of more unskilled-labor-intensive innovations in both regions. We show that the subsequent co-evolution of trade and … answer these questions, this paper develops a trade-and-growth model that captures the key features of the Industrial … includes both endogenous biased technological change and intercontinental trade. An Industrial Revolution begins as a sequence …
Persistent link: https://www.econbiz.de/10012872313