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Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
Economics Working Paper Series No. 11/148
Verlag: 
ETH Zurich, CER-ETH - Center of Economic Research, Zurich
Zusammenfassung: 
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.
Schlagwörter: 
Schumpeterian growth
research and development
general purpose technologies
JEL: 
O11
O33
O41
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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