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The Technology Cycle and Inequality

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Author Info
BOYAN JOVANOVIC

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Abstract

Motivated by the observed rise in the trade of technology, I analyse how technology would spread in a frictionless market. In such a world, low-skilled agents prefer to use old technology because it costs less; their skills do not justify the use of frontier technology. The model generates a technology-life cycle of somewhere between 68 and 124 years and "per-capita "income differential factors between 2.3 and 4.5. The model matches fairly well the cross-section relation between a country's income "per capita "and the average age of the technologies that its residents use. It is also consistent with aspects of the observed positive relation between income and imports of technology. Copyright © 2009 The Review of Economic Studies Limited.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-937X.2009.00532.x
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Article provided by Blackwell Publishing in its journal Review of Economic Studies.

Volume (Year): 76 (2009)
Issue (Month): 2 (04)
Pages: 707-729
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Handle: RePEc:bla:restud:v:76:y:2009:i:2:p:707-729

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  1. Katsuya Takii & Ryuichi Tanaka, 2009. "On the Role of Job Assignment in a Comparison of Education Systems," OSIPP Discussion Paper 09E005, Osaka School of International Public Policy, Osaka University. [Downloadable!]
  2. Diego A. Comin & Bart Hobijn & Emilie Rovito, 2006. "World Technology Usage Lags," NBER Working Papers 12677, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-12-19.

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