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Moore's Law and Learning-By-Doing

Author

Listed:
  • Boyan Jovanovic

    (University of Chicago and New York University)

  • Peter L. Rousseau

    (Vanderbilt University)

Abstract

We model Moore's Law as efficiency of computer producers that rises as a by-product of their experience. We find that (a) because computer prices fall much faster than the prices of electricity-driven and diesel-driven capital ever did, growth in the coming decades should be very fast, and that (b) the obsolescence of firms today occurs faster than before, partly because the physical capital they own becomes obsolete faster. (Copyright: Elsevier)

Suggested Citation

  • Boyan Jovanovic & Peter L. Rousseau, 2002. "Moore's Law and Learning-By-Doing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 346-375, April.
    • Handle: RePEc:red:issued:v:5:y:2002:i:2:p:346-375
    DOI: 10.1006/redy.2002.0162
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    References listed on IDEAS

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    More about this item

    Keywords

    Computers; Electricity; Internal Combustion.;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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