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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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Authors Helpman, E, Trajtenberg, M
Format Paper
LanguageEnglish
Published St. Louis Federal Reserve Bank of St. Louis 01.01.1996
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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