Diffusion of General Purpose Technologies
The present paper deals with the diffusion of the General Purpose Technologies (GPT) over heterogeneous finanl-good sectors. We show that the gradual adoption of the GPT by each user sector generates a sequence of two-phased cycles, culminating in a "second wave" after all sectors adopt,th...
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Published in | IDEAS Working Paper Series from RePEc |
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Main Authors | , |
Format | Paper |
Language | English |
Published |
St. Louis
Federal Reserve Bank of St. Louis
01.01.1996
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Online Access | Get full text |
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Summary: | The present paper deals with the diffusion of the General Purpose Technologies (GPT) over heterogeneous finanl-good sectors. We show that the gradual adoption of the GPT by each user sector generates a sequence of two-phased cycles, culminating in a "second wave" after all sectors adopt,they engage anew in R&D, briging about a spell of sustained growth |
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