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General-purpose Technology (general-purpose + technology)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting100%

Selected Abstracts

Information and Communications Technology as a General-Purpose Technology: Evidence from US Industry Data

GERMAN ECONOMIC REVIEW, Issue 2 2007
Susanto Basu
Information technology; general-purpose technology; productivity acceleration Abstract. Many people point to information and communications technology (ICT) as the key for understanding the acceleration in productivity in the United States since the mid-1990s. Stories of ICT as a ,general-purpose technology' suggest that measured total factor productivity (TFP) should rise in ICT-using sectors (reflecting either unobserved accumulation of intangible organizational capital; spillovers; or both), but with a long lag. Contemporaneously, however, investments in ICT may be associated with lower TFP as resources are diverted to reorganization and learning. We find that US industry results are consistent with general-purpose technology (GPT) stories: the acceleration after the mid-1990s was broad-based , located primarily in ICT-using industries rather than ICT-producing industries. Furthermore, industry TFP accelerations in the 2000s are positively correlated with (appropriately weighted) industry ICT capital growth in the 1990s. Indeed, as GPT stories would suggest, after controlling for past ICT investment, industry TFP accelerations are negatively correlated with increases in ICT usage in the 2000s. [source]

GROWTH AND WAGE INEQUALITY IN A SCALE-INDEPENDENT MODEL WITH R&D AND HUMAN-CAPITAL ACCUMULATION

THE MANCHESTER SCHOOL, Issue 2 2010
Article first published online: 15 JAN 2010, OSCAR AFONSO
We present a dynamic, non-scale general equilibrium model with two human-capital types where Schumpeterian R&D and human-capital accumulation are the engines of growth and wage inequality. In particular, wage inequality is encouraged by relative changes in supply and demand of both human-capital types. Relative supply restricts employed human-capital levels. Relative demand is instantly affected by a new general-purpose technology and, as in the skill-biased technological change literature, by technological-knowledge bias. By considering substitutability between technologies and complementarity between inputs, the bias is driven by the price channel (not by the market-size channel) and is affected by human-capital accumulation. [source]

Information and Communications Technology as a General-Purpose Technology: Evidence from US Industry Data

GERMAN ECONOMIC REVIEW, Issue 2 2007
Susanto Basu
Information technology; general-purpose technology; productivity acceleration Abstract. Many people point to information and communications technology (ICT) as the key for understanding the acceleration in productivity in the United States since the mid-1990s. Stories of ICT as a ,general-purpose technology' suggest that measured total factor productivity (TFP) should rise in ICT-using sectors (reflecting either unobserved accumulation of intangible organizational capital; spillovers; or both), but with a long lag. Contemporaneously, however, investments in ICT may be associated with lower TFP as resources are diverted to reorganization and learning. We find that US industry results are consistent with general-purpose technology (GPT) stories: the acceleration after the mid-1990s was broad-based , located primarily in ICT-using industries rather than ICT-producing industries. Furthermore, industry TFP accelerations in the 2000s are positively correlated with (appropriately weighted) industry ICT capital growth in the 1990s. Indeed, as GPT stories would suggest, after controlling for past ICT investment, industry TFP accelerations are negatively correlated with increases in ICT usage in the 2000s. [source]