Moore ’ s Law and Learning by Doing 1

  title={Moore ’ s Law and Learning by Doing 1},
  author={Boyan Jovanovic and Peter L. Rousseau and peter. l. rousseau},
We model Moore’s law as efficiency of computer producers that rises as a byproduct of their experience. We find the following: (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. (2) The obsolescence of firms today occurs faster than before, partly because the physical capital they own becomes obsolete faster. Journal of Economic Literature Classification Number: O3.  2002… CONTINUE READING
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