Scandinavian Working Papers in Economics
Working Paper Series,
Uppsala University, Department of Economics
No 1997:15: Growth Cycles with Technology Shifts and Externalities
Clas Eriksson and Thomas Lindh ()
Additional contact information
Clas Eriksson: University College of Gävle-Sandviken, Postal: SE-801 76 Gävle, Sweden
Thomas Lindh: Department of Economics, Postal: Department of Economics, Uppsala University, P.O. Box 513, SE-751 20 Uppsala, Sweden
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
JEL-codes: O41
29 pages, June 28, 1997
Questions (including download problems) about the papers in this series should be directed to Ulrika Öjdeby ()
Report other problems with accessing this service to Sune Karlsson ().
This page generated on 2024-02-05 17:14:00.