Evolutionary micro-founded technical change and the Kaldor-Verdoorn Law: Estimates from an artificial world

Arbeitspapier

This paper proposes to identify the micro-level sources for the dynamic increasing returns occurring at an aggregate level. The paper reverts to a micro model of technological change in-line with the evolutionary literature on industrial dynamics. The data generated through numerical simulations are used to identify the sources of increasing returns as measured by the Kaldor-Verdoorn Law. In this respect we also aim to provide some plausible micro-foundations to this Law. The paper shows that: (i) Dynamic increasing returns appear as an emergent property of the model; (ii) micro-characteristics of technical change, as the amplitude and the frequency of changes, as well as selection mechanisms significantly shape these increasing returns.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Papers on Economics and Evolution ; No. 0901

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Current Heterodox Approaches: Historical; Institutional; Evolutionary ; Production, Pricing, and Market Structure; Size Distribution of Firms ; Innovation and Invention: Processes and Incentives ; Technological Change: Choices and Consequences; Diffusion Processes ; Economic Growth and Aggregate Productivity: General
• Thema: Dynamic increasing returns ; Kaldor-Verdoorn Law ; technical change ; evolutionary modelling

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Lorentz, André
• Ereignis: Veröffentlichung
• (wer): Max Planck Institute of Economics
• (wo): Jena
• (wann): 2009

Weitere Informationen

• Handle: http://hdl.handle.net/10419/32644
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ