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Growth Cycles with Technology Shifts and Externalities

Author

Listed:
  • Erikson, C.
  • Lindh, T.
Abstract
This paper investigates a model with tachnological 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 isexplicitly modeled as a complex interrelation between distinct constituents. By allowing for positive technological externalities, closed from 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.

Suggested Citation

  • Erikson, C. & Lindh, T., 1997. "Growth Cycles with Technology Shifts and Externalities," Papers 1997-15, Uppsala - Working Paper Series.
    • Handle: RePEc:fth:uppaal:1997-15
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    References listed on IDEAS

    as
    1. Miles S. Kimball & John G. Fernald & Susanto Basu, 2006. "Are Technology Improvements Contractionary?," American Economic Review, American Economic Association, vol. 96(5), pages 1418-1448, December.
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    7. Nahuis, R., 1998. "The Dynamics of a General Purpose Technology in a Research and Assimilation Model," Other publications TiSEM 001a5f0f-16ac-4e0a-957c-8, Tilburg University, School of Economics and Management.
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    Citations

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    Cited by:

    1. Daniel Schiess & Roger Wehrli, 2011. "Long-Term Growth Driven by a Sequence of General Purpose Technologies," CER-ETH Economics working paper series 11/148, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    2. Дементьев В.Е., 2013. "Структурные Факторы Технологического Развития," Журнал Экономика и математические методы (ЭММ), Центральный Экономико-Математический Институт (ЦЭМИ), vol. 49(4), pages 33-46, октябрь.
    3. Nahuis, R., 1998. "The Dynamics of a General Purpose Technology in a Research and Assimilation Model," Other publications TiSEM 001a5f0f-16ac-4e0a-957c-8, Tilburg University, School of Economics and Management.
    4. Daniel Schiess & Roger Wehrli, 2008. "The Calm Before the Storm? - Anticipating the Arrival of General Purpose Technologies," CER-ETH Economics working paper series 08/81, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    5. Schaefer, Andreas & Schiess, Daniel & Wehrli, Roger, 2014. "Long-term growth driven by a sequence of general purpose technologies," Economic Modelling, Elsevier, vol. 37(C), pages 23-31.
    6. Gomes, Orlando, 2015. "Optimal resource allocation in a representative investor economy," Economic Modelling, Elsevier, vol. 50(C), pages 72-84.
    7. Tsutomu Harada, 2010. "The division of labor in innovation between general purpose technology and special purpose technology," Journal of Evolutionary Economics, Springer, vol. 20(5), pages 741-764, October.

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    More about this item

    Keywords

    ECONOMIC GROWTH ; BUSINESS CYCLES ; TECHNOLOGY;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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