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Growth Cycles with Technology Shifts and Externalities

  • Eriksson, Clas

    (University College of Gävle-Sandviken)

  • Lindh, Thomas

    ()

    (Department of Economics)

This paper investigates a model with technological cycles induced by shifts in technologies. The key feature is that technological development occurs partly by discrete replacement of obsolete technologies, partly by continuous innovation of components for a pervasive general purpose technology. The technological system is explicitly modeled as a complex interrelation between distinct constituents. By allowing for positive technological externalities, closed form analytical solutions for different phases can be obtained, the timing of technology shifts endogenized and a simple characterization of stationary cycles is achieved. This contributes to realism and analytical tractability. The model is capable of reproducing features of e.g. the shift to computer technology.

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Paper provided by Uppsala University, Department of Economics in its series Working Paper Series with number 1997:15.

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Length: 29 pages
Date of creation: 28 Jun 1997
Date of revision:
Publication status: Published in Economic Modelling, 2000, pages 139-170.
Handle: RePEc:hhs:uunewp:1997_015
Contact details of provider: Postal: Department of Economics, Uppsala University, P. O. Box 513, SE-751 20 Uppsala, Sweden
Phone: + 46 18 471 25 00
Fax: + 46 18 471 14 78
Web page: http://www.nek.uu.se/
Email:


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  1. Nahuis, R., 1998. "The Dynamics of a General Purpose Technology in a Research and Assimilation Model," Discussion Paper 1998-119, Tilburg University, Center for Economic Research.
  2. Segerstrom, Paul S, 1998. "Endogenous Growth without Scale Effects," American Economic Review, American Economic Association, vol. 88(5), pages 1290-1310, December.
  3. Shleifer, Andrei, 1986. "Implementation Cycles," Scholarly Articles 3451303, Harvard University Department of Economics.
  4. Helpman, Elhanan & Rangel, Antonio, 1998. "Adjusting to a New Technology: Experience and Training," CEPR Discussion Papers 1930, C.E.P.R. Discussion Papers.
  5. Philippe Aghion & Peter Howitt, 1990. "A Model of Growth Through Creative Destruction," NBER Working Papers 3223, National Bureau of Economic Research, Inc.
  6. Susanto Basu & John Fernald & Miles Kimball, 2002. "Are Technology Improvements Contractionary?," Harvard Institute of Economic Research Working Papers 1986, Harvard - Institute of Economic Research.
  7. Alwyn Young, 1998. "Growth without Scale Effects," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 41-63, February.
  8. Judd, Kenneth L, 1985. "On the Performance of Patents," Econometrica, Econometric Society, vol. 53(3), pages 567-85, May.
  9. repec:dgr:kubcen:1998119 is not listed on IDEAS
  10. Dixit, Avinash & Mirrlees, James A & Stern, Nicholas, 1975. "Optimum Saving with Economies of Scale," Review of Economic Studies, Wiley Blackwell, vol. 42(3), pages 303-25, July.
  11. Jones, Charles I, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, MIT Press, vol. 110(2), pages 495-525, May.
  12. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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