Cargando…

The macroeconomic spillovers from space activity

The resurgence in space activities we are witnessing may provide opportunities for new technologies to generate potential spillovers to the real economy. To address this view, we propose a macroeconomic model with endogenous growth and a space sector. The model describes the relationship between spa...

Descripción completa

Detalles Bibliográficos
Autores principales: Corrado, Luisa, Grassi, Stefano, Paolillo, Aldo, Silgado-Gómez, Edgar
Formato: Online Artículo Texto
Lenguaje:English
Publicado: National Academy of Sciences 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10614782/
https://www.ncbi.nlm.nih.gov/pubmed/37844249
http://dx.doi.org/10.1073/pnas.2221342120
Descripción
Sumario:The resurgence in space activities we are witnessing may provide opportunities for new technologies to generate potential spillovers to the real economy. To address this view, we propose a macroeconomic model with endogenous growth and a space sector. The model describes the relationship between space investment and technological spillovers, which support persistent economic growth. Our estimates indicate that space activities provide growth spillovers that peak from the late 1960s to the early 1980s. Recent space activities have a much lower economic impact. Finally, extensive experiments quantify the economic relevance of our results.