Adoption Lags, Implementation Gaps, and Economic Growth
We introduce a model of endogenous growth in which the returns to innovation are determined by the technology adoption decisions of the users of the new innovative technologies. The technology adoption decisions in our model consist of two dimensions. The first is when to
adopt a new technology. The second is at what initial productivity level to adopt it and which part of its productivity potential to learn by doing. Our model economy is one with realistic adoption curves for each technology, the shape of which are an important determinant of the return to innovations and thus of economic growth
endogenous growth, learning by doing, technology adoption
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