The transition to a new economy after the Second Industrial Revolution

Andrew Atkeson and Patrick Kehoe

Proceedings, 2002, issue Nov

Abstract: During the Second Industrial Revolution, 1860?1900, many new technologies, including electricity, were invented. After this revolution, however, several decades passed before these new technologies diffused and measured productivity growth increased. We build a quantitative model of technology diffusion which we use to study this transition to a new economy. We show that the model implies both slow diffusion and a delay in growth similar to that in the data. Our model casts doubt, however, on the conjecture that this experience is a useful parallel for understanding the productivity paradox following the Information Technology Revolution.

Date: 2002
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://minneapolisfed.org/research/sr/sr296.pdf (application/pdf)

Related works:
Working Paper: The transition to a new economy after the Second Industrial Revolution (2001)
Working Paper: The Transition to a New Economy After the Second Industrial Revolution (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfpr:y:2002:i:nov:x:2

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Proceedings from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().