Endogenizing technological progress: The MESEMET Model

Endogenizing Technological Change: Matching Empirical Evidence to Modeling Needs

Technologies to reduce significantly fossil-fuel emissions currently are unavailable or only available at high cost. In light of this, the amount of research on the pace, direction, and benefits of environmentally friendly technological change has grown dramatically in recent years. This research includes empirical estimates of these effects and modeling exercises designed to simulate endogenou...

Diversity and Technological Progress

This paper proposes a tractable model to study the equilibrium diversity of technological progress and shows that equilibrium technological progress may exhibit too little diversity (too much conformity), in particular, foregoing socially bene…cial investments in “alternative”technologies that will be used at some point in the future. The presence of future innovations that will replace current...

Technological Progress and Sectoral Shares

This paper studies the effect of differences in the rate of technological progress between sectors on the relative sizes of those sectors in terms of revenues. There are two sectors: a stagnant sector, where productivity does not change over time, and a progressive sector, where costs decrease over time due to exogenous technological progress. We consider a conjectural variation approach to com...

Technological Progress Towards Sustainable Development

Technological Progress and Economic Transformation

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