PL EN


2007 | 3-4(54-55) | 249-261
Article title

INNOVATION AND TECHNOLOGICAL SHOCK - DEFINITION AND TAXONOMY

Title variants
Languages of publication
PL
Abstracts
EN
Since the 80s of the 20th century, being the reasons of business cycles and economic growth, technological changes have become again a subject of great interest to economists. The development of Real Business Cycle Theory and Endogenous Growth Theory have contributed to a lot of research on the causes of the business cycles and on the incorporation of a technological factor into macro-econometrics models. The objective of this paper is to review definitions of an innovation and a technology shock and to analyze relations between these two concepts. The interpretation of innovation and its taxonomy on a microeconomic level is made with a respect to the analysis of a technological shock on a macroeconomic level. The authors argue that every new idea affecting the relation of factors of production in a given enterprise can be called, at best, an innovation or a change in technology but not a shock. Due to technology diffusion, only big innovations in one enterprise could spread on the entire economy and cause a technology shock possible to identify.
Year
Issue
Pages
249-261
Physical description
Document type
ARTICLE
Contributors
author
author
  • W. Nowara, Akademia Ekonomiczna w Poznaniu, Wydzial Gospodarki Miedzynarodowej, al. Niepodleglosci 10, 60-967 Poznan, Poland
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
08PLAAAA03817635
YADDA identifier
bwmeta1.element.4309f598-8341-3ed2-8270-f22aabfae4d8
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