FinTech is said to have promising effects. The consideration that arises is whether this new form is a special kind of technology that affects an entire economy and has the potential to change societies through its impact on existing economic and social structures. Thus, the question arises...

How exposed is the labour market to ever-advancing AI capabilities, to what extent does this substitute human labour, and how will it affect inequality? We address these questions in a simulation of 711 US occupations classified by the importance and level of cognitive skills. We base our...

The paper explores development blocks around electrification at a 14 sector level in the Swedish economy 1900-1974. We suggest that long-run cointegration relations in combination with mutually Granger-causing short-run effects form a development block. One block centred on electricity that...

Electricity has been regarded as a typical example of a general purpose technology and important for the surge both in energy productivity and overall productivity in the American economy in the 1920s. This view was challenged by Nicholas and Moser (2004) based on patent statistics. We argue...

How exposed is the labour market to ever-advancing AI capabilities, to what extent does this substitute human labour, and how will it affect inequality? We address these questions in a simulation of 711 US occupations classified by the importance and level of cognitive skills. We base our...

FinTech is said to have promising effects. The consideration that arises is whether this new form is a special kind of technology that affects an entire economy and has the potential to change societies through its impact on existing economic and social structures. Thus, the question arises...

Drastic technological changes are cyclical because basic R&D is carried on only at times when entrepreneurial profits for incremental technologies of the prevailing technological paradigm fall close to zero. The model is essentially an endogenous technological change framework. Varieties, input...

Electricity has been regarded as a typical example of a general purpose technology and important for the surge both in energy productivity and overall productivity in the American economy in the 1920s. This view was challenged by Nicholas and Moser (2004) based on patent statistics. We argue...

In this article, as part of the symposium on total factor productivity, Richard G. Lipsey of Simon Fraser University and Kenneth Carlaw of the University of Canterbury in New Zealand provide a trenchant critique of the concept of total factor productivity. They conclude that "the degree of...