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Greenwood, Jeremy - 1998

following three facts: 1. Since the early 1970's there has been a slump in the advance of productivity. 2. The price of new … explanations are: 1. Productivity slowed down because the implementation of information technologies was both costly and slow. 2 …

Persistent link: https://www.econbiz.de/10012472163

Localized and Biased Technologies : Atkinson and Stiglitz's New View, Induced Innovations, and Directed Technological Change

Acemoglu, Daron - 2014

This paper revisits the important ideas proposed by Atkinson and Stiglitz's seminal 1969 paper on technological change. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological change literature, it explains how these three...

Persistent link: https://www.econbiz.de/10012458604

What is Driving US and Canadian Wages : Exogenous Technical Change or Endogenous Choice of Technique?

Beaudry, Paul - 1998

This paper proposes a new and unified explanation for the following trends observed over the last 25 years: (1) the increased returns to education, (2) the slow measured growth in TFP in an economy undergoing massive changes in its methods of production, and (3) the poor wage performance,...

Persistent link: https://www.econbiz.de/10012471959

Growing by Leaps and Inches : Creative Destruction, Real Cost Reduction, and Inching Up

Darby, Michael R. - 2002

Most firms achieve perfective progress, incrementally improving commodities or productivity. But technological progress …

Persistent link: https://www.econbiz.de/10012469767

Uncovering Some Causal Relationships between Productivity Growth and the Structure of Economic Fluctuations : A Tentative Survey

Aghion, Philippe - 1993

externalities, productivity growth and direct production activities are complements. An expansion therefore has a positive long …-run effect on total factor productivity. In the second type of approach, hereafter labeled 'opportunity cost or 'learning …-by-doing', productivity growth and production activities are substitutes. The opportunity cost of some productivity improving activities falls …

Persistent link: https://www.econbiz.de/10012474337

The Race Between Machine and Man : Implications of Technology for Growth, Factor Shares and Employment

Acemoglu, Daron - 2016

We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and...

Persistent link: https://www.econbiz.de/10012456424

Financial Innovation and Endogenous Growth

Michalopoulos, Stelios - 2009

Is financial innovation necessary for sustaining economic growth? To address this question, we build a Schumpeterian model in which entrepreneurs earn profits by inventing better goods and profit-maximizing financiers arise to screen entrepreneurs. The model has two novel features. First,...

Persistent link: https://www.econbiz.de/10012463294

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

Optimal CO2 Abatement in the Presence of Induced Technological Change

Goulder, Lawrence H. - 1998

This paper explores the significance of policy-induced technological change for the design of carbon-abatement policies. We derive analytical expressions characterizing optimal CO2 abatement and carbon tax profiles under different specifications for the channels through which technological...

Persistent link: https://www.econbiz.de/10012472308

The Induced Innovation Hypothesis and Energy-Saving Technological Change

Newell, Richard G. - 1998

It follows from Hicks' induced innovation hypothesis that rising energy prices in the last two decades should have induced energy-saving innovation. We formulate the hypothesis concretely using a product-characteristics model of energy-using consumer durables, augmenting Hicks' hypothesis to...

Persistent link: https://www.econbiz.de/10012472368