Technology and the Global Economy

Jonathan Eaton and Samuel Kortum

Annual Review of Economics, 2024, vol. 16, issue 1, 79-104

Abstract: Interpreting individual heterogeneity in terms of probability theory has proved powerful in connecting behavior at the individual and aggregate levels. Returning to Ricardo's focus on comparative efficiency as a basis for international trade, much recent quantitative equilibrium modeling of the global economy builds on particular probabilistic assumptions about technology. We review these assumptions and discuss how they deliver a unified framework underlying a wide range of static and dynamic equilibrium models.

Keywords: matching; ideas; diffusion; firms; innovation; trade; growth; research (search for similar items in EconPapers)
JEL-codes: F0 O3 O4 (search for similar items in EconPapers)
Date: 2024
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https://doi.org/10.1146/annurev-economics-080218-025541
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Working Paper: Technology and the Global Economy (2024)
Working Paper: Technology and the Global Economy (2024)
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DOI: 10.1146/annurev-economics-080218-025541

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