Technological change

Technological Change and Technological Strategy

Uncertainty and Technological Change

I would like to begin with two generally accepted propositions: First, technological change is a major ingredient of long-term economic growth, and second, technological change is characterized by a high degree of uncertainty. Understanding the nature of these uncertainties and the obstacles to surmounting them is not a trivial matter. Rather, it goes to the heart of how new technologies are de...

Endogenous Technological Change

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Technological Change and Cities

The United States is in the midst of a technological revolution, driven in large part by rapid advances in microelectronics. There has been much speculation about the impacts of the “information superhighway” on society as a whole, but surprisingly little is known about the potential effects of this technology revolution on the spatial distribution of jobs and people either broadly or in urban ...

Technological Change and Reallocation∗

This paper considers a technological change that can be utilized only by production units adapting to the new technology. A simple firm dynamics model is used to show such an innovation enhances reallocation, whereas a technological advance that is available to all production units does not. This implication is used in structural vector autoregressions to study the driving force behind cyclical...