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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.

Ch. 18: General Purpose Technologies 1185 Figure 1. Annual growth in output per man-hour, 1874–2004. in the first half of the 21st century? If the second shaded area in Figure 1 is in some

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