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The Dynamics of a General Purpose Technology in a Research and Assimilation Model
Nahuis,R.
Nahuis,R.
Abstract
Where is the productivity growth from the IT revolution? Why did the skill premium rise sharply in the early eighties? Were these phenomena related? This paper examines these questions in a general equilibrium model of growth. Technological progress in firms is driven by research aimed at improving the production technology and by assimilation of ideas or principles present outside the firm. A new general purpose technology like the IT revolution generates an initial slowdown in economic growth and an increase in inequality.
Description
Pagination: 44
Date
1998
Journal Title
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Volume Title
Publisher
Macroeconomics
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119.pdf
Adobe PDF, 317.29 KB
Research Projects
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Keywords
R&D spillovers, productivity growth, general purpose technology, wage inequality, O31 - Innovation and Invention: Processes and Incentives, O33 - Technological Change: Choices and Consequences ; Diffusion Processes, O41 - One, Two, and Multisector Growth Models, J31 - Wage Level and Structure ; Wage Differentials, F43 - Economic Growth of Open Economies, SDG 1 - No Poverty, SDG 8 - Decent Work and Economic Growth, SDG 10 - Reduced Inequalities
Citation
Nahuis, R 1998 'The Dynamics of a General Purpose Technology in a Research and Assimilation Model' CentER Discussion Paper, vol. 1998-119, Macroeconomics, Tilburg.