Factor-Eliminating Technical Change
Factor-Eliminating Technical Change
复制标题
消除因素的技术变革
DOI：
10.2139/ssrn.1677611
复制
发表时间：
2007
期刊：
影响因子：
--
通讯作者：
John J. Seater
中科院分区：
文献类型：
--
作者：
P. Peretto;John J. Seater
内生增长要求增加或消除不可再生的生产要素。迄今为止，注意力几乎完全集中在扩增上。相反，我们研究因子消除。最大化代理决定何时降低不可重现因素的重要性。我们使用一个柯布-道格拉斯生产函数，其中有两个生产要素，一个是可再生的（“资本”），另一个是不可再生的（“劳动力”）。没有任何形式的增长进展，因此排除了标准的增长引擎。新的情况是，有可能通过将资源用于研发而内生地改变要素密集度。经济开始时没有资本，也不知道如何使用资本。通过进行研发，经济学会了使用资本的新技术，然后建立起来。有两种可能的最终结果：经济可能实现永久增长，或者可能停滞而没有增长。第一个结果是内生增长的AK模型的渐近版本，第二个结果是在没有任何外生增长源的情况下的标准索洛模型。哪种结果取决于储蓄和生产的参数值，并且总是存在一个可行的储蓄率，它将给出永久增长的结果。因此，该模型提供了一个理论的内生出现的生产技术与恒定的回报，可再生的因素，也就是说，一个能够支持持久的经济增长。该模型还允许推导出完整的过渡动力学，这有有趣的属性。一个特别值得注意的特征是，原点不是一个稳定状态。从纯劳动生产开始的经济通过自身的努力实现工业化。因此，该理论为从原始经济向发达经济的过渡提供了一种纯粹的内生性解释，这与几种著名的理论形成了鲜明对比。转型路径的几个方面与实证结果雅阁，表明理论是合理的。与几乎所有现有的内生增长文献相反，垄断力量和外部性都不是内生增长的必要条件。只要公司能够利用其研究和开发努力的成果就足够了。
Endogenous growth requires that non-reproducible factors of production be either augmented or eliminated. Attention heretofore has focused almost exclusively on augmentation. In contrast, we study factor elimination. Maximizing agents decide when to reduce the importance of non-reproducible factors. We use a Cobb-Douglas production function with two factors of production, one reproducible ("capital") and one not ("labor"). There is no augmenting progress of any kind, thus excluding the standard engine of growth. What is new is the possibility of changing factor intensities endogenously by spending resources on R&D. The economy starts with no capital and no knowledge of how to use it. By conducting R&D, the economy learns new technologies that use capital, which then is built. There are two possible ultimate outcomes: the economy may achieve perpetual growth, or it may stagnate with no growth. The first outcome is an asymptotic version of the AK model of endogenous growth, and the second outcome is the standard Solow model in the absence of any exogenous sources of growth. Which outcome is achieved depends on parameter values of saving and production, and there always is a feasible saving rate that will give the perpetual growth outcome. The model thus provides a theory of the endogenous emergence of a production technology with constant returns to the reproducible factors, that is, one that is capable of supporting perpetual economic growth. The model also allows derivation of the full transition dynamics, which have interesting properties. One especially notable feature is that the origin is not a steady state. An economy that starts with pure labor production becomes industrialized through its own efforts. The theory thus offers a purely endogenous explanation for the transition from a primitive to a developed economy, in contrast to several well-known theories. Several aspects of the transition paths accord with the evidence, suggesting that the theory is reasonable. In contrast to almost all the existing endogenous growth literature, neither monopoly power nor an externality is a necessary condition for endogenous growth. It is sufficient that firms be able to appropriate the results of their research and development efforts.
DOI：
10.2139/ssrn.3595
发表时间：
1998-03
期刊：
Macroeconomics eJournal
影响因子：
--
作者：
R. Hall;C. I. Jones
通讯作者：
R. Hall;C. I. Jones
影响因子：
10.7
作者：
Galor, O;Weil, DN
通讯作者：
Weil, DN