On the long-run evolution of technological knowledge

Please use this identifier to cite or link to this item: http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18947

Title:	On the long-run evolution of technological knowledge
Keywords:	O11 O40 O31 ddc:330 endogenous technological change Malthus long-run growth Endogener technischer Fortschritt Neue Wachstumstheorie Bevölkerungsökonomie Wissen Analysis Theorie
Issue Date:	16-Oct-2013
Publisher:
Description:	This paper revisits the debate about the appropriate differential equation that governs the evolution of knowledge in models of endogenous growth. We argue that the assessment of the appropriateness of an equation of motion should not only be based on its implications for the future, but that it should also include its implications for the past. We maintain that the evolution of knowledge is plausible if it satisfies two asymptotic conditions: Looking forwards, infinite knowledge in finite time should be excluded, and looking backwards, knowledge should vanish towards the beginning of time (but not before). Our key results show that, generically, the behavior of the processes under scrutiny is either plausible in the future and implausible in the past or vice versa, or implausible at both ends of the time line.
URI:	http://koha.mediu.edu.my:8181/xmlui/handle/10419/18947
Other Identifiers:	http://hdl.handle.net/10419/18947 ppn:500454639
Appears in Collections:	EconStor

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