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A New Class of Production Functions and an Argument Against Purely Labor-Augmenting Technical Change

Growiec, Jakub - 2007

This paper follows Jones (2005) in his approach to deriving the global production function from microfoundations. His framework is generalized by allowing for dependence between the Pareto distributions of labor- and capital-augmenting developments. Using the Clayton copula family to capture...

Persistent link: https://www.econbiz.de/10012731549

Is substitutability the new efficiency? : endogenous investment in the elasticity of substitution between clean and dirty energy

Stöckl, Fabian - 2020

When analyzing potential ways to counter climate change, standard models of green growth abstract from investment in substitutability between "clean" and "dirty" energy inputs. Instead, they rely on the assumption that efficiency with respect to fossil fuels can be increased perpetually....

Persistent link: https://www.econbiz.de/10012257316

Testing unified growth theory : technological progress and the child quantity-quality tradeoff

Madsen, Jakob Brøchner; Strulik, Holger - 2020

A core mechanism of unified growth theory is that accelerating technologicalprogress induces mass education and, in interaction with child quantity-quality substitution, a decline in fertility. Using unique new data for 21 OECD countries over theperiod 1750-2000, we test, for the first time, the...

Persistent link: https://www.econbiz.de/10012208891

New General Theory of Economic Development : Innovative Growth and Distribution

Lee, Yong-Shik - 2020

Economic development, which refers to the process of progressive transformation of an economy, is a multifaceted term without a universal definition. This article presents the constitutive elements of economic development, such as growth, distribution, and innovation. Economic development has...

Persistent link: https://www.econbiz.de/10012849707

Disagreement about Innovations and Endogenous Growth

Heyerdahl-Larsen, Christian - 2019

We study an equilibrium model with disagreement about the likelihood of successful innovations. We show that disagreement stimulates aggregate economic growth and overcomes market failures that would otherwise occur in an equilibrium without disagreement. The higher growth with disagreement...

Persistent link: https://www.econbiz.de/10012859072

Endogenous Growth with Technological Change: A Model Based on R&D Expenditure

Freire-Serén, Mª Jesús - Instituto Universitario de Estudios e Desenvolvemento … - 2000

The aim of this paper is to empirically analyze the role that aggregate R&D-expenditures play in economic growth. We introduce a technology of innovation based on R&D-expenditures instead of labor to see how this consideration generates sustainable growth determined endogenously, even if...

Persistent link: https://www.econbiz.de/10004977315

From Growth Theory to Technology Policy -Coordination Problems in Theory and Practice.

Klette, T.J.; Moen, J. - Norges Handelshøyskole (NHH) - 1998

Economists, in particular Bresnahan and Trajtenberg (1995), have recently drawn attention to the importance of generic or general purpose technologies (GPTs) and their significance for economic growth. An interesting part of this research identifies coordination problems in the introduction of...

Persistent link: https://www.econbiz.de/10005646780

The autocatalytic character of the growth of production knowledge: What role does human labor play?

Brenner, Thomas; Cordes, Christian - Volkswirtschaft Abteilung, Fachbereich … - 2004

This paper analyzes how the qualitative change in human labor occurs in mutual dependence with the advancement of the epistemic base of technology. Historically, a recurrent pattern can be identified: humans learned to successively transfer labor qualities to machines. The subsequent release of...

Persistent link: https://www.econbiz.de/10005765335

The Evolution of the Literature on Technological Change over time: A Survey

Conte, Andrea - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2006

This paper reviews the emergence and evolution of major topics in economics of innovation. Throughout the paper, particular attention is devoted to the analysis of the cumulative aspects and complementarities between di_erent paths of research over time. Moreover, this survey highlights the...

Persistent link: https://www.econbiz.de/10005252215

European Integration and Productivity Growth

Norberg, Helene - Economics Institute for Research (SIR), … - 1996

In this study, productivity growth, convergence, and structural change are examined for various samples of EU members …. It is found that structural change has had a minor impact on aggregate labor productivity growth, and that there has been … significant convergence in labor productivity at the industrial level during the 1960s and 1970s within the EU. The productivity …

Persistent link: https://www.econbiz.de/10005649408