Moore's Law and the Semiconductor Industry: A Vintage Model*
构建了一个年代模型，用芯片代际更替而非学习效应来解释价格下降，并分析沉没投资对旧芯片持续生产的影响，部分支持了摩尔定律外生加速导致1995年后价格下降和生产率增长加快的假说。
Abstract In this paper we develop a vintage model to gain a better understanding of the semiconductor industry and its role in recent U.S. productivity gains. Unlike previous work, in our model the observed price declines of individual chips are driven by the introduction of better vintages rather than by learning economies. Dominated chips, nonetheless, continue to be produced, for a time, due to sunk investments in chip‐specific production equipment. The model lends partial support to Jorgenson's hypothesis that an exogenous increase in Moore's Law could have generated the more rapid price declines, and faster productivity growth, seen after 1995.