Growth Cycles with Technology Shifts and Externalities

Clas Eriksson and Thomas Lindh
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Clas Eriksson: University College of Gävle-Sandviken, Postal: SE-801 76 Gävle, Sweden

No 1997:15, Working Paper Series from Uppsala University, Department of Economics

Abstract: This paper investigates a model with technological 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 is explicitly modeled as a complex interrelation between distinct constituents. By allowing for positive technological externalities, closed form 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; cycles; general purpose technologies (search for similar items in EconPapers)
JEL-codes: O41 (search for similar items in EconPapers)
Pages: 29 pages
Date: 1997-06-28
New Economics Papers: this item is included in nep-tid
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Citations: View citations in EconPapers (2)

Published in Economic Modelling, 2000, pages 139-170.

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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:hhs:uunewp:1997_015

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