Technological Waves and Local Growth

Published on 15 March 2024
Date of Event: 2024-03-20
Event Timing: 4:00pm - 5:30pm
Event Venue: Meeting Room 5.1, Level 5, School of Economics, Singapore Management University
Technological Waves and Local Growth
Technological Waves and Local Growth

Abstract: 

We develop a spatial model of endogenous growth via frictional knowledge diffusion to examine the effect of technological waves—defined as long-term shifts in the importance of specific knowledge fields—on local population dynamics. We calibrate the model using a new dataset of historical geolocated patents spanning over one hundred years. We find that frictions to idea diffusion across locations and technological fields account for more than half of the empirical relationship between exposure to technological waves and local growth in the United States during the twentieth century. Counterfactual experiments suggest that future technological scenarios may have large geographical effects.

Keywords: 

Cities, Population Growth, Technology Diffusion, Innovation, Patents

JEL Codes: 

R12, O10, O30, O33, O47

Presenter: 

Ruben Gaetani, University of Toronto