Technology Differences over Space and Time (eBook)

Francesco Caselli (Autor)

eBook Download: PDF | EPUB

2016
Princeton University Press (Verlag)
978-1-4008-8360-8 (ISBN)

Infos

Francesco Caselli is the Norman Sosnow Professor of Economics at the London School of Economics, and a fellow of the British Academy.

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Technology Differences over Space and Time looks at how countries use their productive resources-such as workers, skills, equipment and structures, and natural resources. Francesco Caselli develops methods to assess the efficiency with which productive inputs are used, and how these efficiencies vary across countries and over time.Caselli finds that richer countries use skilled workers relatively more efficiently than unskilled workers, and equipment and structures relatively more efficiently than natural resources. They also are relatively more efficient users of labor than of capital. Technological change tends to make countries particularly efficient at using skills and less efficient at using capital. Technical change also favors experienced workers.In order to interpret and understand these findings, Caselli presents a theory of technology choice. In this theory, firms pick technologies that make the most efficient use of the most abundant production factors when these factors are good substitutes for the less abundant factors. Firms pick technologies that make the most of less abundant factors when other suitable factors are not available for substitution. For example, rich countries, where skilled workers are abundant, use skilled workers efficiently, as these are good substitutes for unskilled workers. This flexible framework can be applied to other pairs of inputs, over time, and across countries.Technology Differences over Space and Time has significant implications not only for the theoretical understanding of development and technological innovation, but also for government formulation of industrial policy and multinationals making decisions about what to invest in and where to make those investments.

Produkt-Details

• Erscheint lt. Verlag: 22.11.2016
• Reihe/Serie: CREI Lectures in Macroeconomics
• Reihe/Serie: CREI Lectures in Macroeconomics
• Zusatzinfo: 30 line illus.
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Naturwissenschaften
• Themenwelt: Technik
• Themenwelt: Wirtschaft ► Allgemeines / Lexika
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Schlagworte: Addition • aggregate production • Allocative Efficiency • Appropriate Technology • arbitrariness • At Best • Augmentation • Bias • Calculation • Capital • capital aggregate • Capital Gain • Capital good • Capital Goods • Capital Share • Cobb–Douglas production function • coefficient • Comparability • Constant elasticity of substitution • Convenience • Correlation and dependence • Cost curve • Cross-Sectional Data • data set • Determinant • developed country • Dummy variable (statistics) • Economic equilibrium • economy • Educational attainment • Efficiency • Efficiency (statistics) • Elasticity of substitution • Emerging Technologies • endogenous technology framework • Error Term • estimation • Experience • factor bias • Factor Endowment • Factor market • Factor price • Factors of Production • Full-time equivalent • General Equilibrium Theory • Growth Accounting • Human Capital • income • income distribution • Industrial Policy • inference • Investment • Labor • labor aggregate • labor input • labor supply • Lecture • Long run and short run • Macroeconomics • Marginal product • Measurement • Mode of Production • Multinationals • National Accounts • Natural capital • natural resources • Negative relationship • Observable • Observational error • opportunity cost • Parameter • Partial equilibrium • Penn World Table • percentile • perfect competition • Physical Capital • Prediction • Probability • Production • Production Function • Production Technology • productive inputs • productive resource • Productivity • Purchasing Power Parity • Quantity • Rate of return • relative marginal products • Relative price • relative supply • relative wage • reproducible capital • Research and Development • Sample Size • school quality • Self-Employment • Simple set • Skill • skill bias • Skilled Labor • skilled worker • skilled workers • skill premium • skills supply • Special case • standard deviation • standard error • Statistics • Stock • SUBGROUP • Substitution • summary statistics • Summation • Supply (economics) • symmetric equilibrium • Technical Change • Technological Innovation • Technology • Technology Choice • technology difference • Technology Transfer • Test score • Time in the United States • Time Series • Total Factor Productivity • Trade-off • Underpinning • unskilled labor • unskilled workers • Value (economics) • variable capital shares • Variable (mathematics) • wage rate • Wage ratio • Weighted arithmetic mean • Workforce productivity • Working-age Population • year • Zero-profit condition
• ISBN-10: 1-4008-8360-1 / 1400883601
• ISBN-13: 978-1-4008-8360-8 / 9781400883608