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Moore's Law and Learning-By-Doing

  • Boyan Jovanovic

    (University of Chicago and New York University)

  • Peter L. Rousseau

    (Vanderbilt University)

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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File URL: http://dx.doi.org/10.1006/redy.2002.0162
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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

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Handle: RePEc:red:issued:v:5:y:2002:i:2:p:346-375
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  1. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  2. Merlo, Antonio & Schotter, Andrew, 2003. "Learning by not doing: an experimental investigation of observational learning," Games and Economic Behavior, Elsevier, vol. 42(1), pages 116-136, January.
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