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Introduction: Principles and Tools of Mathematical Modeling Read chapter Read first chapter

2013 | OriginalPaper | Chapter

3. Modeling of Technological Change

Authors : Natali Hritonenko, Yuri Yatsenko

Published in: Mathematical Modeling in Economics, Ecology and the Environment

Publisher: Springer US

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Abstract

Economic data for the last two centuries has demonstrated the presence of a self-sustaining mechanism of cumulative productivity growth, known as technical progress or technological change. In modern times, the technical progress affects not only the efficiency of the economy, but also the natural environment and entire lifestyle of human society. Section 3.1 provides a comprehensive review of major directions and trends in the modeling of technical progress, including: autonomous, induced, exogenous and endogenous, embodied and disembodied technological change, and technological change as a separate sector of the economy. Section 3.2 analyzes the classic Solow–Swan, Shell, and Ramsey models of economic dynamics with exogenous technological change. Section 3.3 explores modern one- and two-sector models with endogenous technological change, physical and human capital, and knowledge accumulation. Substitution, diffusion, and evolution models of technological innovations are briefly discussed in Sect. 3.4.

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previous chapter Aggregate Models of Economic Dynamics
next chapter Models with Heterogeneous Capital
Footnotes
1
The book symbol https://static-content.springer.com/image/chp%3A10.1007%2F978-1-4614-9311-2_3/MediaObjects/102168_2_En_3_Figa_HTML.gif means that the reference is a textbook recommended for further student reading.
 
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Metadata
Title
Modeling of Technological Change
Authors
Natali Hritonenko
Yuri Yatsenko
Copyright Year
2013
Publisher
Springer US
Book
Mathematical Modeling in Economics, Ecology and the Environment

Print ISBN: 978-1-4614-9310-5

Electronic ISBN: 978-1-4614-9311-2

Copyright Year: 2013

DOI
https://doi.org/10.1007/978-1-4614-9311-2_3

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