Diffusion of General Purpose Technologies
The present paper deals with the diffusion of the General Purpose Technologies (GPT) over heterogeneous finanl-good sectors. We show that the gradual adoption of the GPT by each user sector generates a sequence of two-phased cycles, culminating in a "second wave" after all sectors adopt,they engage anew in R&D, briging about a spell of sustained growth
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Web page: http://econ.tau.ac.il/
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- Bresnahan, Timothy F. & Trajtenberg, M., 1995.
"General purpose technologies 'Engines of growth'?,"
Journal of Econometrics,
Elsevier, vol. 65(1), pages 83-108, January.
- Judd, Kenneth L, 1985. "On the Performance of Patents," Econometrica, Econometric Society, vol. 53(3), pages 567-85, May.
- David, P.A., 1989. "Computer And Dynamo: The Modern Productivity Paradox In A Not-Too Distant Mirror," The Warwick Economics Research Paper Series (TWERPS) 339, University of Warwick, Department of Economics.
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