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Technology adoption and growth

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  • Stephen L. Parente
  • Edward C. Prescott

Abstract

Technology change is modeled as the result of decisions of individuals and groups of individuals to adopt more advanced technologies. The structure is calibrated to the U.S. and postwar Japan growth experiences. Using this calibrated structure we explore how large the disparity in the effective tax rates on the returns to adopting technologies must be to account for the huge observed disparity in per capita income across countries. We find that this disparity is not implausibly large.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 136.

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Date of creation: 1991
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Publication status: Published in Journal of Political Economy (Vol. 102, n.2, 1994, pp. 298-321)
Handle: RePEc:fip:fedmsr:136

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Keywords: Technology ; Economic development;

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References

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  1. Solow, Robert M., 2000. "Growth Theory: An Exposition," OUP Catalogue, Oxford University Press, edition 2, number 9780195109030.
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  10. Stephen L. Parente & Edward C. Prescott, 1991. "Technology adoption and growth," Staff Report 136, Federal Reserve Bank of Minneapolis.
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  19. Parente, Stephen L, 1995. "A Model of Technology Adoption and Growth," Economic Theory, Springer, vol. 6(3), pages 405-20, November.
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  23. Irwin, Douglas A & Klenow, Peter J, 1994. "Learning-by-Doing Spillovers in the Semiconductor Industry," Journal of Political Economy, University of Chicago Press, vol. 102(6), pages 1200-1227, December.
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