# 11-163/3 (2011-11-16)

Stilianos Alexiadis, Ministry of Rural Development & Foods; Konstantinos Eleftheriou, University of Piraeus; Peter Nijkamp, VU University Amsterdam
Search Theory, Technological Shock, Technology Adoption
JEL codes:
J62, J64

Using 'search' theory, technology adoption is conceived of as a critical factor in the aftermath of a technological shock, which increases employment in the leading sectors and total output in the economy. These implications are further investigated in the present paper, both formally and empirically. Our attempt to investigate this hypothesis empirically across ten OECD countries, appears to provide various affirmative results.