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  1. assets.pubpub.org

    New Things Under the Sun • Combinatorial innovation and technological progress in the very long run 3 An important point is that once you successfully combine two components, the resulting new idea becomes a component you can combine with others. To stretch Weitzman's lightbulb example, once the lightbulb had been invented, new inventions
  2. are hard to pin down due to di culty in measuring degree of technological progress over time. Our goal is to ll this gap by constructing indices of technological progress at the aggregate and sectoral level that are consistently available|and comparable|over long periods of time. Patent statistics are a useful starting point.
    Author:Bryan Kelly, Dimitris Papanikolaou, Amit Seru, Matt TaddyPublished:2021
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  4. economics.harvard.edu

    This uni-ed framework helps us understand why U.S. technological progress is shifting towards novel combinations, including factors such as the very long use-ful horizons for technological components, the consequential deepening pools of technologies available for recombination, and the exponential power of combinatorial processes. Many of
  5. We can say very little about the long-run outlook of technological change, and even less about the exact form such change might take. But a certain class of models of innovation - models of combinatorial innovation - does provide some insight about how technological progress may look over very long time frames. Let's have a look.
  6. (i) technological opportunity must be continuously renewed in order to sustain technological progress over the long run; (ii) if the flows of radical innovations are too small in comparison to the flows of incremental innovations, technological opportunity will be gradually depleted and economic growth will eventually come to a halt, and if radical
  7. newthingsunderthesun.com

    Feb 14, 2023Combinatorial innovation and technological progress in the very long run. Combinatorial innovation is the notion that technological progress can be understood through the combination of pre-existing ideas or technologies. This process can lead to sub-exponential growth until an explosion of new ideas takes place.
  8. Measuring Technological Innovation over the Long Run by Bryan Kelly, Dimitris Papanikolaou, Amit Seru and Matt Taddy. Published in volume 3, issue 3, pages 303-20 of American Economic Review: Insights, September 2021, Abstract: We use textual analysis of high-dimensional data from patent documents t...
  9. National Bureau of Economic Research

    https://www.nber.org › papers › w25266

    Our technology indices span two centuries (1840-2010) and cover innovation by private and public firms, as well as non-profit organizations and the US government. These indices capture the evolution of technological waves over a long time span and are strong predictors of productivity at the aggregate and sectoral level.
  10. podcasts.apple.com

    We can say very little about the long-run outlook of technological change, and even less about the exact form such change might take. But a certain class of models of innovation - models of combinatorial innovation - does provide some insight about how technological progress may look over very long
  11. sciencedirect.com

    The fertility transition and the child quantity-quality trade-off eventually disabled the Malthusian mechanism, and technological progress triggered education and benefited workers. If the elasticity of substitution between land and labor is sufficiently high, the rent-wage ratio declines such that inequality is hump-shaped in the very long run.
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