Investment specific technological progress and structural change
نویسندگان
چکیده
منابع مشابه
Investment Specific Technological Progress and Structural Change
In this paper we introduce investment specific technical progress into Pasinetti’s model of structural change. Our aim is to assess the effects of embodied technical progress on economic growth and macroeconomic variables. Our findings suggest that despite the fact that this type of technical progress increases the productivity of capital, it has negative effects on conditions that promote full...
متن کاملInvestment-Specific Technological Change, Skill Accumulation, and Wage Inequality
Wage inequality between education groups in the United States has increased substantially since the early 1980s. The relative number of college-educated workers has also increased dramatically in the postwar period. This paper presents a unified framework where the dynamics of both skill accumulation and wage inequality arise as an equilibrium outcome driven by measured investmentspecific techn...
متن کاملTechnological progress, structural change and productivity growth: a comparative study
The relationship between the economic structure of a country and its productivity growth has received a lot of attention in recent decades. For instance, several theoretical models in this area now suggest that countries that specialize in technologically progressive industries will enjoy high rates of growth compared to other countries. This paper focuses on the impact of specialization and st...
متن کاملLong-Run Implications of Investment-Specific Technological Change
The role that investment-specific technological change played in generating postwar U.S. growth is investigated here. The premise is that the introduction of new, more efficient capital goods is an important source of productivity change, and an attempt is made to disentangle its effects from the more traditional Hicksneutral form of technological progress. The balanced growth path for the mode...
متن کاملIrreversibility, Uncertainty and Investment in the Presence of Technological Progress
We apply a real options approach to develop a general characterization of the dynamics of the capital accumulation process in the presence of technological progress. In particular, we delineate circumstances under which the present technology represents a compound real option, which incorporates as valuable embedded options the opportunity of successive updating of the technology to superior fu...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Estudos Econômicos (São Paulo)
سال: 2010
ISSN: 0101-4161
DOI: 10.1590/s0101-41612010000400003