Technological Progress, Globalization, and Secular Stagnation
نویسندگان
چکیده
منابع مشابه
Globalization, Divergence and Stagnation∗
In a world where poor countries provide weak protection for intellectual property rights, market integration will systematically shift technical change in favor of rich nations. For this reason, free trade can increase international income differences. At the same time, integration with countries where intellectual property rights are weakly protected can have a large adverse effect on the worl...
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This paper proposes a tractable model to study the equilibrium diversity of technological progress and shows that equilibrium technological progress may exhibit too little diversity (too much conformity), in particular, foregoing socially bene cial investments in alternativetechnologies that will be used at some point in the future. The presence of future innovations that will replace current...
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ژورنال
عنوان ژورنال: Journal of Central Banking Theory and Practice
سال: 2018
ISSN: 2336-9205
DOI: 10.2478/jcbtp-2018-0004