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| Author: | Andolfatto, D. MacDonald, G. |
| Title: | Technology diffusion and aggregate dynamics |
| Journal: | Review of Economic Dynamics
1998 : APR, VOL. 1:2, p. 338-370 |
| Index terms: | ECONOMIC DYNAMICS TECHNOLOGY DIFFUSION |
| Language: | eng |
| Abstract: | This paper develops and analyzes a macroeconomic model in which aggregate growth and fluctuations arise from the the discovery and diffusion of new technologies; there are no exogenous aggregate shocks. The temporal behavior of aggregates is driven by individuals' efforts to innovate and/or make use of others' innovations. Parameters describing preferences, production possibilities, and learning technologies are estimated using post-war U.S. data. |
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