Technology Revolutions and the Gestation of the New Technologies
用一般均衡动态差异化产品模型形式化熊彼特的技术进步与增长周期理论，分析技术增长率、资源禀赋和研发生产成本如何影响产品代际时长和技术革命频率，对研究创新驱动增长的经济学者有参考价值。
We formalize Schumpeter's explanation of technological progress and growth cycles in a model where consumers and firms benefit from periodic changes in technology which result in the development and marketing of new generations of products. We develop a genera/ equilibrium dynamic differentiated products model in order to explain technological progress via cyclical changes in investment, output, and interest rates as well as the introduction of new products. We characterize the equilibrium and analyze the effect of changes in the rate of technology growth, resource endowment, and costs of REM and production on the duration of generations of products and the frequency of technology revolutions, and hence of growth cycles.