Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171591
Authors: 
Schiess, Daniel
Wehrli, Roger
Year of Publication: 
2011
Series/Report no.: 
Economics Working Paper Series 11/148
Abstract: 
We present a Schumpterian model of endogenous growth with General Purpose Technologies (GPTs) that captures two important historical stylized facts: First, from the beginning of mankind until today GPTs are arriving at an increasing frequency and, second, all GPTs heavily depended on previous technologies. In our model, the arrival of GPTs is endogenous and arises stochastically depending on the currently available applied knowledge stock. This way of endogenizing the arrival of new GPTs allows for a model which is more in tune with the historical reality than the existing GPT models.
Subjects: 
Schumpeterian growth
research and development
general purpose technologies
JEL: 
O11
O33
O41
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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