SUSTAINED GROWTH DRIVEN BY MULTIPLE, CO-EXISTING GPTs

Kenneth Carlaw () and Richard Lipsey ()
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Kenneth Carlaw: University of British Columbia - Okanagan
Richard Lipsey: Simon Fraser University, http://www.sfu.ca/~rlipsey

Discussion Papers from Department of Economics, Simon Fraser University

Abstract: The model incorporates characteristics of general purpose technologies established empirically but not currently modeled: GPTs occur simultaneously in several technology "classes," such as ICTs and materials; different "versions" of each class often compete with each other; GPTs of different classes complement each other; uncertainty is associated with GPT development and diffusion. The model's three sectors produce consumption goods using applied knowledge, applied knowledge using GPTs, and pure knowledge that occasionally discovers a new GPT whose efficiency increases as it diffuses. The model allows for competition between, and complementarities among GPTs, replicates accepted growth facts and is useful for policy analysis.

Keywords: General purpose technologies (GPTs); diffusion; efficiency; growth; R&D. (search for similar items in EconPapers)
JEL-codes: O41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ino and nep-knm
Date: 2007-09

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