Transcription of GENERAL PURPOSE TECHNOLOGIES - nyu.edu
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GENERAL PURPOSE TECHNOLOGIES - nyu.edu
Chapter 18 GENERAL PURPOSE TECHNOLOGIESBOYAN JOVANOVICNew York UniversityandNBERPETER L. ROUSSEAUV anderbilt UniversityandNBERC ontentsAbstract1182 Keywords11831. What is a GPT? Summary of Similarities between the Electrification and IT Differences between the Electrification and IT eras11862. Measuring the three characteristics of a Pervasiveness of the Pervasiveness in the Pervasiveness among Adoption by On dating the endpoints of a GPT Improvement of the Ability of the GPT to spawn Investment by new firms vs. investment by incumbents12003. Other symptoms of a Productivity The skill Entry, exit, and mergers should Stock prices should fall1207 Handbook of Economic Growth, Volume 1B. Edited by Philippe Aghion and Steven N. Durlauf 2005 Elsevier All rights reservedDOI: (05)01018-X1182B.
1184 B. Jovanovic and P.L. Rousseau 1. Introduction The term “general-purpose technology”, or GPT, has seen extensive use in recent treat-ments of the role of technology in economic growth, and is usually reserved for changes
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