题目：Growth with New and Old Technologies

主讲人：Bernardo Robeiro (EIEF)

时间：2025年10月30日 下午14:00 – 15:30

地点：229教室

摘要：This paper proposes a semi-endogenous growth theory that incorporates technology vintages and the endogenous evolution of multiple technological paradigms through innovation. It provides a characterization of both balanced growth equilibrium and transitional dynamics in an environment where new technologies continuously emerge. From a positive perspective, the model rationalizes two distinct empirical patterns. Using two centuries of US patent data, I first document that the age profile of patents has a pronounced hump shape: most contemporary patents build upon technologies that are between 50 and 100 years old. Second, this age profile has remained stable throughout the past century. From a normative standpoint, the theory underscores a misallocation of research effort induced by the tendency among profit-maximizing firms to overinvest in further developing mature technologies. This yields suboptimally slow development of emerging technologies. According to a calibrated version of the model, correcting such misallocation could raise long-run consumption by 30%.

主讲人简介：Bernardo Robeiro is an Assistant Professor of Economics at the Einaudi Institute for Economics and Finance (EIEF). Before joining the EIEF, he was a Postdoctoral Associate at Princeton University’s Department of Economics and the Louis A. Simpson Center for the Study of Macroeconomics (2024-2025). He received his Ph.D. in Economics from Yale University in 2024. His research focuses on economic growth, innovation, and long-run development.