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| Author: | Acemoglu, D. |
| Title: | Labor- and capital-augmenting technical change |
| Journal: | Journal of the European Economic Association
2003 : MAR, VOL. 1:1, p. 1-37 |
| Index terms: | Capital Economic conditions Labour Technological change |
| Freeterms: | Augmenting |
| Language: | eng |
| Abstract: | A economy in which firms can undertake both labour- and capital-augmenting technological improvement is analyzed. The economy resembles the standard growth model with purely labour-augmenting technical change in the long run, and the share of labour in GDP is constant. Along the transition path, however, there is capital-augmenting technical change and factor shares change. |
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