Download This PaperMoore's Law and Learning-by-Doing
31 Pages Posted: 2 Feb 2002 Last revised: 11 Jun 2020
Date Written: January 2002
Abstract
We model Moore's Law as efficiency of computer producers that rises as a by-product of their experience. We find that (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, and that (2) The obsolescence of firms today occurs faster than before, partly because the physical capital they own becomes obsolete faster.
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