|
Technology shocks are events in a macroeconomic model, that change the production function. The term ''shock'' is defined as a sudden change in economic terms. Usually this is modeled with an aggregate production function that has a scaling factor. A technology shock is when there is a sudden change in technology to either benefit or worsen economic activity.〔(【引用サイトリンク】title=Economic Shock )〕 This type of shock has big effects on companies that are solely dependent on technology as their main source of labor or production, such as manufacturing plants or oil/energy extraction. A technology shock affects an industry or firm's productivity, this may be a positive shock—increasing the output for a given set of inputs, or a negative shock—decreasing the output for a given set of inputs. Negative shocks are much less common than positive shocks as technology rarely moves backwards. ==Positive technology shock== The Industrial Revolution is an example of a ''positive technology shock''. The Industrial Revolution occurred between the 18th and the 19th centuries where major changes in agriculture, manufacturing, mining, transport, and technology occurred.〔Landes, David S. (1969). ''The Unbound Prometheus: Technological Change and Industrial Development in Western Europe from 1750 to the Present''. Cambridge, New York: Press Syndicate of the University of Cambridge. ISBN 0-521-09418-6.〕 What this did to the economy at the time was notable. It increased wages steadily over the period of time and it also increased population because people had the wages for standard living. This is an example of a positive technology shock, where it increases national and disposable income, and also increases the labor force. The Industrial Revolution also provided a much more efficient way to produce goods which lead to less labor-intensive work.〔Landes, David S. (1969). ''The Unbound Prometheus: Technological Change and Industrial Development in Western Europe from 1750 to the Present''. Cambridge, New York: Press Syndicate of the University of Cambridge. ISBN 0-521-09418-6.〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Technology shock」の詳細全文を読む スポンサード リンク
|