On the Macroeconomic Effects of Major Technological Change

Philippe Aghion and Peter Howitt

Annals of Economics and Statistics, 1998, issue 49-50, 53-75

Abstract: This paper analyses how a General Purpose Technology (GPT) diffuses throughout the various sectors of an economy. The model outlined in this paper can account for a number of empirical observations: in particular, the existence of delays followed by acceleration phases in the experimentation and implementation of a new GPT, and the occurrence of productivity slow-downs and wage inequality increases during the acceleration phase of the logistic diffusion curve.

Date: 1998
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Citations: View citations in EconPapers (40)

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Journal Article: On the Macroeconomic Effects of Major Technological Change (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1998:i:49-50:p:53-75

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