We model Moore's Law as efficiency of computer producers that rises as a by-product of their experience. We find that (a) because computer prices fall much faster than the prices of electricity-driven and diesel-driven capital ever did, growth in the coming decades should be very fast, and that (b) the obsolescence of firms today occurs faster than before, partly because the physical capital they own becomes obsolete faster. (Copyright: Elsevier)
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.
Volume (Year): 5 (2002) Issue (Month): 2 (April) Pages: 346-375 Download reference. The following formats are available: HTML
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Barro, Robert J & Sala-i-Martin, Xavier, 1992.
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Nathan Balke & Robert J. Gordon, 1986.
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J. Bradford DeLong, 2003.
"Productivity Growth in the 2000s,"
NBER Chapters,
in: NBER Macroeconomics Annual 2002, Volume 17, pages 113-158
National Bureau of Economic Research, Inc.
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Boyan Jovanovic & Peter L. Rousseau, 2005.
"General Purpose Technologies,"
NBER Working Papers
11093, National Bureau of Economic Research, Inc.
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