Growth Cycles with Technology Shifts and Externalities

C. Erikson and Thomas Lindh

Working Papers from Uppsala - Working Paper Series

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.

Keywords: ECONOMIC GROWTH; BUSINESS CYCLES; TECHNOLOGY (search for similar items in EconPapers)
JEL-codes: O41 (search for similar items in EconPapers)
Pages: 29 pages
Date: 1997
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Related works:
Journal Article: Growth cycles with technology shifts and externalities (2000)
Working Paper: Growth Cycles with Technology Shifts and Externalities (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:uppaal:1997-15

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