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Persistent link: https://www.econbiz.de/10012405867
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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
Persistent link: https://www.econbiz.de/10011990985
We develop a tractable dynamic model of productivity growth and technology spillovers that is consistent with the … emergence of real world empirical productivity distributions. Firms can improve productivity by engaging in in-house R\&D, or …-growth equilibrium featuring persistent productivity differences even when starting from ex-ante identical firms. The long …
Persistent link: https://www.econbiz.de/10011671850
The analysis in this paper shows that unpredictable variations in economic productivity may have a positive or negative …. Empirical studies concerning these two factors indicate that unpredictable variations in economic productivity have a negative …
Persistent link: https://www.econbiz.de/10011343279
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...
Persistent link: https://www.econbiz.de/10014062624
The analysis in this paper shows that unpredictable variations in economic productivity may have a positive or negative …. Empirical studies concerning these two factors indicate that unpredictable variations in economic productivity have a negative …
Persistent link: https://www.econbiz.de/10014065750
How does risk or uncertainty in the productivity of research affect the growth rate of the economy? To answer this …&D from profit-maximizing firms. The uncertainty arises from the productivity of these investments in R&D. The main result of … this analysis is that the relationship between long-run growth and uncertainty (on the productivity of knowledge creation …
Persistent link: https://www.econbiz.de/10014115099
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/10013055191