Arbeitspapier
Long-Run Growth and the Evolution of Technological Knowledge
The long-run evolution of per-capita income exhibits a structural break often associated with the Industrial Revolution. We follow Mokyr (2002) and embed the idea that this structural break reflects a regime switch in the evolution of technological knowledge into a dynamic framework, using Airy differential equations to describe this evolution. We show that under a non-monotonous income-population equation, the economy evolves from a Malthusian to a Post-Malthusian Regime, with rising per-capita income and a growing population. The switch is brought about by an acceleration in the growth of technological knowledge. The demographic transition marks the switch into the Modern Growth Regime, with higher levels of per-capita income and declining population growth.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Paper Series ; No. 438
Demographic Trends, Macroeconomic Effects, and Forecasts
Macroeconomic Analyses of Economic Development
Technological Change: Choices and Consequences; Diffusion Processes
Economic Growth and Aggregate Productivity: General
Technological Change
Malthus
Demographic Transition
Wirtschaftswachstum
Industrialisierung
Technischer Fortschritt
Evolutionsökonomik
Demographischer Übergang
Theorie
Irmen, Andreas
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:23 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Hakenes, Hendrik
- Irmen, Andreas
- University of Heidelberg, Department of Economics
Entstanden
- 2007
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