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| Author: | Yorukoglu, M. |
| Title: | The information technology productivity paradox |
| Journal: | Review of Economic Dynamics
1998 : APR, VOL. 1:2, p. 551-592 |
| Index terms: | ECONOMIC DYNAMICS INFORMATION TECHNOLOGY PRODUCTIVITY |
| Language: | eng |
| Abstract: | A vintage capital model where the firm makes decisions about whether to replace or upgrade its old capital stock with new capital is developed in this paper. The model is used to study how technological characteristics of capital affect investment behaviour. In particular, it is asked how the rate of technological advance, the compatibility between capital stocks of different vintages, and the extent of learning-by-doing affect investment behavior. The model sheds light on the "information technology productivity paradox". |
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