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Technological Innovation, Resource Allocation, and Growth
Kogan, Leonid - 2014
We propose a new measure of the economic importance of each innovation. Our measure uses newly collected data on … our measure suggests that technological innovation accounts for significant medium-run fluctuations in aggregate economic …
Persistent link: https://www.econbiz.de/10013066798
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Growth Accounting with Misallocation : Or, Doing Less with More in Singapore
Fernald, John G. - 2010
We derive aggregate growth-accounting implications for a two-sector economy with heterogeneous capital subsidies and monopoly power. In this economy, measures of total factor productivity (TFP) growth in terms of quantities (the primal) and real factor prices (the dual) can diverge from each...
Persistent link: https://www.econbiz.de/10013142554
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Stochastic Technical Progress, Nearly Smooth Trends and Distinct Business Cycles
Rotemberg, Julio J. - 2022
This paper investigates whether it is possible to entertain simultaneously two attractive views about US GDP. The first is that long term growth in US GDP is attributable to an empirically plausible specification of random technical progress. The second is that deviations of GDP from a fitted...
Persistent link: https://www.econbiz.de/10013321578
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Catch-Up and Fall-Back Through Innovation and Imitation
Benhabib, Jess - 2012
frontier? This paper models agents growing as a result of investments in innovation and imitation. Imitation facilitates …
Persistent link: https://www.econbiz.de/10013106293
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Carbon Taxes, Path Dependency and Directed Technical Change : Evidence from the Auto Industry
Aghion, Philippe - 2014
innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …
Persistent link: https://www.econbiz.de/10013064941
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Heterogeneity and the Dynamics of Technology Adoption
Ryan, Stephen P - 2014
We estimate the demand for a videocalling technology in the presence of both network effects and heterogeneity. Using a unique dataset from a large multinational firm, we pose and estimate a fully dynamic model of technology adoption. We propose a novel identification strategy based on...
Persistent link: https://www.econbiz.de/10013067628
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Adoption Curves and Social Interactions
Brock, William A. - 2010
This paper considers the observational implications of social influences on adoption decisions for an environment of perfect foresight adopters. We argue that social influences can produce two observable effects: 1) discontinuities in unconditional adoption curves and 2) pattern reversals in...
Persistent link: https://www.econbiz.de/10013152509
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Inventive Capabilities in the Division of Innovative Labor
Arora, Ashish - 2018
of innovation and imitation, we explore how inventive capability affects a firm's R&D investments, and thus whether and … innovation and the division of innovative labor among US manufacturing firms, we find that high capability firms tend to use …
Persistent link: https://www.econbiz.de/10012911085
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Endogenous Innovation in the Theory of Growth
Grossman, Gene M. - 2010
-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/10012763516
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Innovation, Competition and Welfare-Enhancing Monopoly
Darby, Michael R. - 2011
outcome. The totality of possible outcomes drives the national innovation system and the returns to a particular successful … required to motivate investment attempting to turn them into an innovation. The alternative to a valuable proprietary … innovation is not the same innovation freely available but the unchanged generic technology. Growth is concentrated in any …
Persistent link: https://www.econbiz.de/10012757081