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In Defense of Electricity as a General Purpose Technology

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Author

Summary, in English

Electricity has been regarded as a typical example of a general purpose technology and important for the surge both in energy productivity and overall productivity in the American economy in the 1920s. This view was challenged by Nicholas and Moser (2004) based on patent statistics. We argue that other methods are required for studying productivity effects and propose cointegration analyses. We demonstrate a clear impact from electrification on energy productivity in those broad Swedish industrial branches that used electricity for multiple uses. This effect goes beyond mere book-keeping effects and indicates the existence of dynamic effects.

Publishing year

2007

Language

English

Publication/Series

CIRCLE Electronic Working Paper Series

Volume

2007/06

Document type

Working paper

Publisher

Center for Innovation Research and Competence in the Learning Economy (utgivare)

Topic

  • Economic History
  • Social Sciences Interdisciplinary

Keywords

  • electricity
  • GPT
  • productivity
  • cointegration
  • dynamic effects

Status

Published

ISBN/ISSN/Other

  • ISSN: 1654-3149