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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...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
National Academy of Sciences
2023
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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 |
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author | Corrado, Luisa Grassi, Stefano Paolillo, Aldo Silgado-Gómez, Edgar |
author_facet | Corrado, Luisa Grassi, Stefano Paolillo, Aldo Silgado-Gómez, Edgar |
author_sort | Corrado, Luisa |
collection | PubMed |
description | 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. |
format | Online Article Text |
id | pubmed-10614782 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | National Academy of Sciences |
record_format | MEDLINE/PubMed |
spelling | pubmed-106147822023-10-31 The macroeconomic spillovers from space activity Corrado, Luisa Grassi, Stefano Paolillo, Aldo Silgado-Gómez, Edgar Proc Natl Acad Sci U S A Social Sciences 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. National Academy of Sciences 2023-10-16 2023-10-24 /pmc/articles/PMC10614782/ /pubmed/37844249 http://dx.doi.org/10.1073/pnas.2221342120 Text en Copyright © 2023 the Author(s). Published by PNAS. https://creativecommons.org/licenses/by/4.0/This open access article is distributed under Creative Commons Attribution License 4.0 (CC BY) (https://creativecommons.org/licenses/by/4.0/) . |
spellingShingle | Social Sciences Corrado, Luisa Grassi, Stefano Paolillo, Aldo Silgado-Gómez, Edgar The macroeconomic spillovers from space activity |
title | The macroeconomic spillovers from space activity |
title_full | The macroeconomic spillovers from space activity |
title_fullStr | The macroeconomic spillovers from space activity |
title_full_unstemmed | The macroeconomic spillovers from space activity |
title_short | The macroeconomic spillovers from space activity |
title_sort | macroeconomic spillovers from space activity |
topic | Social Sciences |
url | 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 |
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