Data and Code for: A Framework for Economic Growth with Capital-Embodied Technical Change
Principal Investigator(s): View help for Principal Investigator(s) Benjamin Jones, Northwestern University; Xiaojie Liu, Northwestern University
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
|---|---|---|---|
| Figure1 | 01/03/2024 03:49:PM | ||
| Figure4 | 01/03/2024 03:49:PM | ||
| Figure5 | 01/03/2024 03:49:PM | ||
|
|
text/plain | 278 bytes | 01/03/2024 10:58:AM |
|
|
application/pdf | 148.6 KB | 01/03/2024 11:00:AM |
Project Citation:
Jones, Benjamin, and Liu, Xiaojie. Data and Code for: A Framework for Economic Growth with Capital-Embodied Technical Change. Nashville, TN: American Economic Association [publisher], 2024. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2024-04-01. https://doi.org/10.3886/E195364V1
Project Description
Summary:
View help for Summary
Technological advance is often embodied in capital inputs, like computers, airplanes, and robots. This paper builds a framework where capital inputs advance through (1) increased automation, and (2) increased productivity. The interplay of these two innovation dimensions can produce balanced growth, satisfying the Uzawa Growth Theorem even though technological progress is capital-embodied. The framework can further address structural transformation, general purpose technologies, the limited macroeconomic impact of computing, and declining productivity growth and labor shares. Overall, this tractable framework can help resolve puzzling tensions between micro-level observations of innovation and balanced growth, while providing new perspectives on numerous macroeconomic phenomena.
Funding Sources:
View help for Funding Sources
Air Force Office of Scientific Research (FA9550-19-1-0354)
Scope of Project
Subject Terms:
View help for Subject Terms
economic growth;
automation;
Uzawa growth theorem;
balanced growth;
structural change;
labor share of income;
Solow's paradox;
artificial intelligence
JEL Classification:
View help for JEL Classification
O10 Economic Development: General
O30 Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
O40 Economic Growth and Aggregate Productivity: General
O10 Economic Development: General
O30 Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
O40 Economic Growth and Aggregate Productivity: General
Geographic Coverage:
View help for Geographic Coverage
United States
Time Period(s):
View help for Time Period(s)
1945 – 2023
Collection Date(s):
View help for Collection Date(s)
8/19/2021 – 12/16/2023
Universe:
View help for Universe
1. U.S. economy aggregate output and sectoral output.
2. U.S. employment, compensation, and average labor productivity.
3. Microprocessor advances and costs per floating point operation.
Data Type(s):
View help for Data Type(s)
aggregate data;
event/transaction data
Methodology
Data Source:
View help for Data Source
No primary data was collected. Data was downloaded from existing sources. See ReadMe.
Unit(s) of Observation:
View help for Unit(s) of Observation
Annual; aggregate and sectoral output, labor shares of income; also, computing costs.
Related Publications
Published Versions
Report a Problem
Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.
This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.