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Does this mean the trickle down effect for new products is almost instant?

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The spread of washing machines in China

In 1981, less than 10% of urban Chinese households had a washing machine. But by 2011, 97.05% did. In 1985, less than 5% of rural Chinese households had a washing machine. By 2011, 62.57% owned one....

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The spread of The Great Enrichment

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Nancy Stokey’s Plenary at SED 2018 on technology diffusion

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The diffusion of the Great Enrichment

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Andolfatto and McDonald (1996) on the cycle is the trend

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