This paper argues that investment-specific technological progress (ISTP) conventionally identified with the relative price of investment, inevitably correlate with neutral technological progress in heterogeneous production networks. Consequently, the ISTP is an elusive concept to examine the...

The paper deals with the impact of information and communications technology on carbon emissions and economic growth in South Korea. The quarterly time series data from the first quarter of 1970 to the third quarter of 2010 (163 observations) are collected and retrieved from the Bank of Korea...

Over the coming century, computer technology is likely to become capable of reproducing a large portion of the tasks performed by human labor. This paper develops a model of the aggregate economic growth that results when work tasks are transferred from humans to physical capital. The model...

We develop a growth model that features the endogenous two-tier innovations of information carrier technology and production technology. Information carrier technology promotes production technology innovation and thus economic growth through improving the preservation and dissemination of...

We build a novel endogenous growth model with information carrier technology, in which knowledge may be lost in storage and dissemination. In the asymptotic balanced growth path equilibrium, we establish two main findings. First, the growth rate of information carrier technology and the...

The purpose of this paper is to estimate the effect of durable goods and ICT on Euro Area economic growth and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of consumer durables impacts both the levels and growth rates of the...

The purpose of this paper is to estimate the effect of durable goods and ICT on Euro Area economic growth and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of consumer durables impacts both the levels and growth rates of the...

The usage of information technology (IT) towards sustainable economic growth is found to yield three main effects: (1) an efficiency effect, (2) a scale effect, and (3) a capital utilization effect. The first two effects are multiplicative whereas the third effect is additive on aggregate output...

The benefits from the New Economy should accrue as improvements in productivity and economic growth. But while the use of information and communication technology seems to have had a substantial impact on the performance of the United States economy, the evidence for other countries is much...

This paper reassesses the link between ICT prices, technology, and productivity. To understand how the ICT sector could come to the rescue of a whole economy, we extend a multi-sector model due to Oulton (2012) to include ICT services (e.g., cloud services) and use it to calibrate the...