Volumes of Evidence: Examining Technical Change in the Last Century Through a New Lens

@article{Alexopoulos2011VolumesOE,
  title={Volumes of Evidence: Examining Technical Change in the Last Century Through a New Lens},
  author={Michelle Alexopoulos and Jon S. Cohen},
  journal={ERN: Production; Cost; Capital \& Total Factor Productivity; Value Theory (Topic)},
  year={2011}
}
  • M. Alexopoulos, Jon S. Cohen
  • Published 1 May 2011
  • Economics
  • ERN: Production; Cost; Capital & Total Factor Productivity; Value Theory (Topic)
Although technical change is central in much of modern economics, traditional measures of it are, for a number of reasons, flawed. We discuss in this paper new indicators based on data drawn from the MARC records of the Library of Congress on the number of new technology titles in various fields published in the United States over the course of the last century. These indicators, we argue, overcome many of the shortcomings associated with patents, research and development expenditures… 

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