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On the Macroeconomic Effects of Major Technological Change

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Author Info

  • Philippe AGHION
  • Peter HOWITT

Abstract

This paper analyses how a General Purpose Technology (GPT) diffuses throughout the various sectors of an economy. The model outlined in this paper can account for a number of empirical observations: in particular, the existence of delays followed by acceleration phases in the experimentation and implementation of a new GPT, and the occurrence of productivity slow-downs and wage inequality increases during the acceleration phase of the logistic diffusion curve.

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Bibliographic Info

Article provided by ENSAE in its journal Annals of Economics and Statistics.

Volume (Year): (1998)
Issue (Month): 49-50 ()
Pages: 53-75

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Handle: RePEc:adr:anecst:y:1998:i:49-50:p:02

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Cited by:
  1. Helpman, E. & Rangel, A., 1998. "Adjusting to a New Technology: Experience and Training," Papers 07-98, Tel Aviv.
  2. Kim, Se-Um, 2008. "The Technological Origins of the High School Movement," MPRA Paper 12087, University Library of Munich, Germany.
  3. Peter Howitt, 2002. "The Research Agenda: Schumpeterian Growth Theory," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 3(2), April.
  4. Bruinshoofd,Allard & Hollanders,Hugo & Weel,Bas,ter, 1999. "Knowledge Spillovers and Wage Inequality: An Empirical Investigation of Knowledge-Skill Complementarity," Research Memorandum 008, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  5. Zhi Li & Xiaopeng Yin,, 2004. "Endogenous Business Cycles with Consumption Externalities," Econometric Society 2004 North American Summer Meetings 402, Econometric Society.
  6. Zon,Adriaan,van & Fortune,Emmanuelle & Kronenberg,Tobias, 2003. "How to Sow and Reap as You Go: a Simple Model of Cyclical Endogenous Growth," Research Memorandum 029, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  7. Schaefer, Andreas & Schiess, Daniel & Wehrli, Roger, 2014. "Long-term growth driven by a sequence of general purpose technologies," Economic Modelling, Elsevier, vol. 37(C), pages 23-31.
  8. Peter Howitt, 2004. "Endogenous Growth, Productivity and Economic Policy: A Progress Report," International Productivity Monitor, Centre for the Study of Living Standards, vol. 8, pages 3-15, Spring.

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