Absolutely true that new subdomains open up new areas of low-hanging fruit. It is the “stacked S-curve” model.
Not immediately clear whether what this means for β>0. I think this model may be addressed in Bloom et al, or maybe in an earlier paper by Jones. I vaguely recall that it doesn’t make a difference whether you analyze things in terms of the subdomains or the economy at large, but I don’t have the exact reference at hand.
Absolutely true that new subdomains open up new areas of low-hanging fruit. It is the “stacked S-curve” model.
Not immediately clear whether what this means for β>0. I think this model may be addressed in Bloom et al, or maybe in an earlier paper by Jones. I vaguely recall that it doesn’t make a difference whether you analyze things in terms of the subdomains or the economy at large, but I don’t have the exact reference at hand.