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dc.contributor.authorGrowiec, Jakub
dc.contributor.authorJabłońska, Julia
dc.contributor.authorParteka, Aleksandra
dc.date.accessioned2023-10-03T10:23:14Z
dc.date.available2023-10-03T10:23:14Z
dc.date.issued2023-09
dc.identifier.citationGrowiec J., Jabłońska J., Parteka A., Hardware and Software over the Course of Long-Run Growth: Theory and Evidence, SGH KAE Working Papers, 2023, nr 2023/091, s. 1-39en
dc.identifier.urihttp://hdl.handle.net/20.500.12182/1176
dc.description.abstractOutput is generated through purposefully initiated physical action. Production needs energy and information, provided by respective factors: hardware (“brawn”), including physical labor and physical capital, and software (“brains”), encompassing human cognitive work and pre-programmed software, in particular artificial intelligence (AI). From first principles, hardware and software are essential and complementary in production, whereas their constituent components are mutually substitutable. This framework generalizes the neoclassical model of production with capital and labor, models with capital-skill complementarity and skill-biased technical change, and unified growth theories embracing also the pre-industrial period. Having laid out the theory, we provide an empirical quantification of hardware and software in the US, 1968-2019. We document a rising share of physical capital in hardware (mechanization) and digital software in software (automation); as a whole software has been growing systematically faster than hardware. Accumulation of digital software was a key contributor to US economic growth.en
dc.language.isoen
dc.rightsDozwolony użytek*
dc.subjectproduction functionen
dc.subjecttechnological progressen
dc.subjectcomplementarityen
dc.subjectautomationen
dc.subjectartificial intelligenceen
dc.subject.classificationO30en
dc.subject.classificationO40en
dc.subject.classificationO41en
dc.titleHardware and Software over the Course of Long-Run Growth: Theory and Evidenceen
dc.typeworkingPaperen
dc.description.number2023/091en
dc.description.physical1-39en
dc.description.seriesSGH KAE Working Papers Seriesen


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