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Knowledge Diffusion and economic Growth based on Fourier’s law

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  • Gao, Yijin

Abstract

Learning is the basic thing for a person’s growth, whenever in school or on the work. Also the economic growth of a country depends its technology and science. The knowledge diffusion in a firm dynamic system is important. Some former models have been given by Fernando E. Alvarez, Francisco J. Buera and Robert E. Lucas, Jr’s paper: “Models of Idea Flows” (Alvarez et al., 2008). Our model based on the earlier work but extend the definition of spread direction based on Fourier’s law, in which case can also explain the asymptotic equilibrium state. Solving the partial differential equation helps us to learn the solution well. A simulation is given using finite difference method to sketch the curve moving, also comparing with the realistic economic curves and they are fit. It can well explain the economic stable in the closed system of a single country and a “huge” change under some special outside “source” power.

Suggested Citation

  • Gao, Yijin, 2020. "Knowledge Diffusion and economic Growth based on Fourier’s law," Research in Economics, Elsevier, vol. 74(2), pages 174-185.
    • Handle: RePEc:eee:reecon:v:74:y:2020:i:2:p:174-185
    DOI: 10.1016/j.rie.2020.04.003
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    References listed on IDEAS

    as
    1. Robert E. Lucas Jr. & Benjamin Moll, 2014. "Knowledge Growth and the Allocation of Time," Journal of Political Economy, University of Chicago Press, vol. 122(1), pages 1-51.
    2. Robert E. Lucas, 2009. "Ideas and Growth," Economica, London School of Economics and Political Science, vol. 76(301), pages 1-19, February.
    3. Fernando E. Alvarez & Francisco J. Buera & Robert E. Lucas, Jr., 2008. "Models of Idea Flows," NBER Working Papers 14135, National Bureau of Economic Research, Inc.
    4. Erzo Luttmer, 2017. "Slow Convergence in Economies with Organization Capital," 2017 Meeting Papers 1117, Society for Economic Dynamics.
    5. Francisco J. Buera & Ezra Oberfield, 2020. "The Global Diffusion of Ideas," Econometrica, Econometric Society, vol. 88(1), pages 83-114, January.
    6. SeHyoun Ahn & Greg Kaplan & Benjamin Moll & Thomas Winberry & Christian Wolf, 2018. "When Inequality Matters for Macro and Macro Matters for Inequality," NBER Macroeconomics Annual, University of Chicago Press, vol. 32(1), pages 1-75.
    7. Nelson Lind & Natalia Ramondo, 2018. "Innovation, Knowledge Diffusion, and Globalization," NBER Working Papers 25071, National Bureau of Economic Research, Inc.
    8. Francisco J. Buera & Benjamin Moll, 2015. "Aggregate Implications of a Credit Crunch: The Importance of Heterogeneity," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(3), pages 1-42, July.
    9. Dmitriev, Mikhail & Comin, Diego & Rossi-Hansberg, Esteban, 2012. "The Spatial Diffusion of Technology," CEPR Discussion Papers 9208, C.E.P.R. Discussion Papers.
    10. Jonathan Chiu & Cesaire Meh & Randall Wright, 2017. "Innovation And Growth With Financial, And Other, Frictions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58, pages 95-125, February.
    11. Ezra Oberfield, 2018. "A Theory of Input–Output Architecture," Econometrica, Econometric Society, vol. 86(2), pages 559-589, March.
    12. Jesse Perla & Christopher Tonetti, 2014. "Equilibrium Imitation and Growth," Journal of Political Economy, University of Chicago Press, vol. 122(1), pages 52-76.
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