Technology Creation, Diffusion, and Growth Cycles
AbstractStandard macroeconomic models that assume an exogenous stochastic process for multifactor productivity offer the interpretation that recessions are the result of ''bad news'' (technological regress) and expansions are the result of ''good news'' (technological advancement). The view taken here is that both expansions and recessions are the result of ''good news'' in the sense that in both cases, aggregate production possibilities have increased. Recessions can be thought of as the transition from one technological frontier to the next.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Connecticut, Department of Economics in its series Working papers with number 2003-35.
Length: 24 pages
Date of creation: Jun 2003
Date of revision:
Contact details of provider:
Postal: University of Connecticut 341 Mansfield Road, Unit 1063 Storrs, CT 06269-1063
Phone: (860) 486-4889
Fax: (860) 486-4463
Web page: http://www.econ.uconn.edu/
More information through EDIRC
This paper has been announced in the following NEP Reports:
- NEP-DEV-2003-09-14 (Development)
- NEP-DGE-2003-09-14 (Dynamic General Equilibrium)
- NEP-INO-2003-09-14 (Innovation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Michele Boldrin & David K. Levine, 1999.
"Growth Cycles and Market Crashes,"
Levine's Working Paper Archive
2028, David K. Levine.
- Jovanovic, Boyan & Rob, Rafael, 1990.
"Long Waves and Short Waves: Growth through Intensive and Extensive Search,"
Econometric Society, vol. 58(6), pages 1391-1409, November.
- Boyan Jovanovic & Rafael Rob, 1990. "Long Waves and Short Waves: Growth Through Intensive and Extensive Search," Levine's Working Paper Archive 2082, David K. Levine.
- Andrew Atkeson & Patrick Kehoe, 1997. "Industry Evolution and Transition: A Neoclassical Benchmark," NBER Working Papers 6005, National Bureau of Economic Research, Inc.
- David Andolfatto & Glenn M. MacDonald, 1998.
"Technology Diffusion and Aggregate Dynamics,"
Cahiers de recherche CREFE / CREFE Working Papers
58, CREFE, Université du Québec à Montréal.
- Boyan Jovanovic & Saul Lach, 1995.
"Product innovation and the business cycle,"
Finance and Economics Discussion Series
95-46, Board of Governors of the Federal Reserve System (U.S.).
- Greenwood, Jeremy & Hercowitz, Zvi & Krusell, Per, 1997.
"Long-Run Implications of Investment-Specific Technological Change,"
American Economic Review,
American Economic Association, vol. 87(3), pages 342-62, June.
- Greenwood, J. & Hercowitz, Z. & Krusell, P., 1995. "Long-Run Implications of Investment-Specific Technological Change," UWO Department of Economics Working Papers 9510, University of Western Ontario, Department of Economics.
- Greenwood, J. & Hercowitz, Z. & Krusell, P., 1996. "Long-Run Implications of Investment-Specific Technological Change," RCER Working Papers 420, University of Rochester - Center for Economic Research (RCER).
- Jeremy Greenwood & Boyan Jovanovic, 1999.
"The IT Revolution and the Stock Market,"
NBER Working Papers
6931, National Bureau of Economic Research, Inc.
- Charles I. Jones, .
"The Upcoming Slowdown in U.S. Economic Growth,"
97015, Stanford University, Department of Economics.
- Andreas Hornstein & Per Krusell, 1996. "Can Technology Improvements Cause Productivity Slowdowns?," NBER Chapters, in: NBER Macroeconomics Annual 1996, Volume 11, pages 209-276 National Bureau of Economic Research, Inc.
- Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August.
- Gort, Michael & Klepper, Steven, 1982. "Time Paths in the Diffusion of Product Innovations," Economic Journal, Royal Economic Society, vol. 92(367), pages 630-53, September.
- Orlando Gomes, 2005. "Knowledge creation and technology difusion: a framework to understand economic growth," Revista de Analisis Economico – Economic Analysis Review, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines, vol. 20(2), pages 41-61, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kasey Kniffin).
If references are entirely missing, you can add them using this form.