Moore's law and learning by doing

Boyan Jovanovic; Peter L. Rousseau

doi:10.1006/redy.2002.0162

Moore's law and learning by doing

Boyan Jovanovic, Peter L. Rousseau

Research output: Contribution to journal › Article › peer-review

Abstract

We model Moore's law as efficiency of computer producers that rises as a by-product of their experience. We find the following: (1) 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. (2) The obsolescence of firms today occurs faster than before, partly because the physical capital they own becomes obsolete faster. Journal of Economic Literature Classification Number: O3.

Original language	English (US)
Pages (from-to)	346-375
Number of pages	30
Journal	Review of Economic Dynamics
Volume	5
Issue number	2
DOIs	https://doi.org/10.1006/redy.2002.0162
State	Published - 2002

Keywords

Computers
Electricity
Internal combustion

ASJC Scopus subject areas

Economics and Econometrics

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10.1006/redy.2002.0162

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abstract = "We model Moore's law as efficiency of computer producers that rises as a by-product of their experience. We find the following: (1) 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. (2) The obsolescence of firms today occurs faster than before, partly because the physical capital they own becomes obsolete faster. Journal of Economic Literature Classification Number: O3.",

keywords = "Computers, Electricity, Internal combustion",

author = "Boyan Jovanovic and Rousseau, {Peter L.}",

note = "Funding Information: 1We thank the National Science Foundation for support and Peter Thompson for comments. Chia-Ying Chang, Jong-Hun Kim, and John T. Roland provided research assistance.",

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N2 - We model Moore's law as efficiency of computer producers that rises as a by-product of their experience. We find the following: (1) 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. (2) The obsolescence of firms today occurs faster than before, partly because the physical capital they own becomes obsolete faster. Journal of Economic Literature Classification Number: O3.

AB - We model Moore's law as efficiency of computer producers that rises as a by-product of their experience. We find the following: (1) 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. (2) The obsolescence of firms today occurs faster than before, partly because the physical capital they own becomes obsolete faster. Journal of Economic Literature Classification Number: O3.

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KW - Electricity

KW - Internal combustion

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Moore's law and learning by doing

Abstract

Keywords

ASJC Scopus subject areas

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