search query: @author Jovanovic, B. / total: 17
reference: 11 / 17
| Author: | Jovanovic, B. Rob, R. |
| Title: | The growth and diffusion of knowledge. |
| Journal: | Review of Economic Studies
1989 : OCT, VOL. 56:188, p. 569-582 |
| Index terms: | INNOVATION DIFFUSION |
| Language: | eng |
| Abstract: | A decentralized process is analyzed for the diffusion of knowledge. In equilibrium, the economy converges from an initial distribution of knowledge over agents to the steady-state distribution, which is unique. Because of the public good aspect of information, too little learning takes place, and ideas are implemented too early. Spillovers of knowledge depend not only on how hard people are trying, but also on the differences in what they know: if all of us know the same thing, we cannot learn from each other. The model also addresses the following two substantive questions: first, the relationship between inequality and growth, and second, the effect on growth of improvements in the communication technology. |
SCIMA