An age structured demographic theory of technological change

An age structured demographic theory of technological change

At the heart of technology transitions lie complex processes of social and industrial dynamics. The quantitative study of sustainability transitions requires modelling work, which necessitates a theory of technology substitution. Many, if not most, contemporary modelling approaches for future technology pathways overlook most aspects of transitions theory, for instance dimensions of heterogenou...

An Economic Theory of Technological Change

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What Drives the Skill Premium: Technological Change or Demographic Variation?

This paper quantitatively examines the e¤ects of two exogenous driving forces, investment-speci…c technological change (ISTC) and the demographic change known as “the baby boom and the baby bust,”on the evolution of the skill premium in the postwar U.S. economy. I develop an overlapping generations general equilibrium model with endogenous discrete schooling choice. The production technology fe...

Expectations, Technological Change, Information and the Theory of Financial Markets

This paper concerns itself with understanding the operation of financial markets using realistic assumptions. The expectations of economic agents generate prices in the marketplace. The generation of the expectations derives from the information available in the marketplace and the perceived economic needs of the agents. The revision of expectations occurs as new information is constantly enter...

Technological Change and Technological Strategy