Technological Progress and Economic Transformation

Economie D'avant Garde Report No. 3

62 Pages Posted: 31 Mar 2003

See all articles by Jeremy Greenwood

Jeremy Greenwood

University of Pennsylvania - Department of Economics; National Bureau of Economic Research (NBER)

Ananth Seshadri

University of Wisconsin - Madison - Department of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: February 2003

Abstract

Growth theory can go a long way toward accounting for phenomena linked with U.S. economic development. Some examples are: (i) the secular decline in fertility between 1800 and 1980, (ii) the decline in agricultural employment and the rise in skill since 1800, (iii) the demise of child labor starting around 1900, (iv) the increase in female labor-force participation from 1900 to 1980, (v) the baby boom from 1936 to 1972. Growth theory models are presented to address all of these facts. The analysis emphasizes the role of technological progress as a catalyst for economic transformation. This survey paper is in preparation for the Handbook of Economic Growth edited by Philippe Aghion and Steven Durlauf (North-Holland, Amsterdam).

Keywords: Technological Progress , Household Production Theory, Child Labor, Economic Growth, Educational Attainment, Female Labor-Force Participation, Fertility,

JEL Classification: D1, E1, J1, O3

Suggested Citation

Greenwood, Jeremy and Seshadri, Ananth, Technological Progress and Economic Transformation (February 2003). Economie D'avant Garde Report No. 3. Available at SSRN: https://ssrn.com/abstract=380980 or http://dx.doi.org/10.2139/ssrn.380980

Jeremy Greenwood (Contact Author)

University of Pennsylvania - Department of Economics ( email )

Ronald O. Perelman Center for Political Science
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Philadelphia, PA 19104-6297
United States
215-898-1505 (Phone)

HOME PAGE: http://jeremygreenwood.net

National Bureau of Economic Research (NBER)

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Ananth Seshadri

University of Wisconsin - Madison - Department of Economics ( email )

1180 Observatory Drive
Madison, WI 53706
United States
608-262-6196 (Phone)
608-263-3876 (Fax)

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