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Gunn, Christopher M. - Department of Economics, McMaster University - 2011

I present a theoretical model where the economy endogenously adopts the technological ideas of a slowly evolving technological frontier, and show that the presence of a "technological gap" between unadopted ideas and current productivity can lead to multiple equilibria and therefore the...

Persistent link: https://www.econbiz.de/10009147349

The IMF and Economic Recovery: Is Fund Policy Contributing to Downside Risks?

Weisbrot, Mark; Montecino, Juan Antonio - Center for Economic and Policy Research (CEPR) - 2010

The IMF’s most recent World Economic Outlook (WEO), published last week, projects world economic growth will slow, from 4.8 percent in 2010 to 4.2 percent next year. Throughout the report, there are numerous concerns expressed about the “fragility” of the global economic recovery. The...

Persistent link: https://www.econbiz.de/10008671783

Technology Diffusion: Measurement, Causes and Consequences

Comin, Diego; Mestieri, Martí - C.E.P.R. Discussion Papers - 2014

This chapter discusses different approaches pursued to explore three broad questions related to technology diffusion: what general patterns characterize the diffusion of technologies, and how have they changed over time; what are the key drivers of technology, and what are the macroeconomic...

Persistent link: https://www.econbiz.de/10011083490

Intrinsic Business Cycles with Pro-Cyclical R&D

Francois, Patrick; Lloyd-Ellis, Huw - Economics Department, Queen's University - 2006

Recent empirical work finds that R&D expenditures are quite procyclical, even for firms that are not redit-constrained during downturns. This has been taken as strong evidence against Schumpeterian-style theories of business cycles that emphasize the idea that downturns in production may be good...

Persistent link: https://www.econbiz.de/10005787651

Measuring Our Ignorance, One Book at a Time: New Indicators of Technological Change, 1909-1949

Alexopoulos, Michelle; Cohen, Jon - University of Toronto, Department of Economics - 2009

We present new indicators of U.S. technological change for the period 1909-49 based on information in the Library of Congress’ catalogue. We use these indicators to estimate the connections between technological change and economic activity, and to investigate the relationship between...

Persistent link: https://www.econbiz.de/10005572536

Volumes of Evidence: Examining Technical Change Last Century Through a New Lens

Alexopoulos, Michelle; Cohen, Jon - University of Toronto, Department of Economics - 2009

expenditures, innovation counts, and productivity figures. We find, among other things, the following: the pattern and nature of … technical change described by our indicators is, on the whole, consistent with that of other measures; they represent innovation …

Persistent link: https://www.econbiz.de/10005572559

The Role of Innovative Development in Unconventional Hydrocarbon Exploitation in the Context of the Shale Gas Revolution in the USA

Grinets, Irina; Kaznacheev, Peter - 2015

Due to the recent drop in oil prices, there is a strong interest in the influence of the shale revolution on the global supply and demand of hydrocarbon fuels. Consequently, the attention of many economists and industry analysts is drawn to the technological, institutional and regulatory aspects...

Persistent link: https://www.econbiz.de/10014138810

Income, Endogenous Market Structure, and Innovation

Lin, Mei - 2010

firms' equilibrium market revenues, we derive numerical solutions of the Markov perfect equilibrium innovation rate of the … important role in evaluating the impact of rising income inequality on R&D; furthermore, the way aggregate innovation responds … income inequality has a negative effect on innovation when the market quality gap is large, in which case, price competition …

Persistent link: https://www.econbiz.de/10013142385

The implications of wage structure rigidity on human capital accumulation, economic growth and unemployment: A Schumpeterian approach to endogenous growth theory

Nusser, Michael - 1999

accumulation. Human capital is an important source of sustained growth. By focusing explicity on innovation as an economic activity …

Persistent link: https://www.econbiz.de/10010301336

Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, L. Randall - 2015

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

Persistent link: https://www.econbiz.de/10011335945