Technology adoption and growth

Stephen L. Parente, Edward C. Prescott

Research output: Working paper


Technology change is modeled as the result of decisions of individuals and groups of individuals to adopt more advanced technologies. The structure is calibrated to the U.S. and postwar Japan growth experiences. Using this calibrated structure we explore how large the disparity in the effective tax rates on the returns to adopting technologies must be to account for the huge observed disparity in per capita income across countries. We find that this disparity is not implausibly large.
Original languageEnglish (US)
PublisherNational Bureau of Economic Research
Number of pages31
StatePublished - Jun 1991
Externally publishedYes

Publication series

NameNBER Working Paper


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