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| Tekijä: | Boucekkine, R. del Rio, F. Licandro, O. |
| Otsikko: | Embodied technological change, learning-by-doing and the productivity slowdown |
| Lehti: | Scandinavian Journal of Economics
2003 : VOL. 105:4, p. 87-97 |
| Asiasana: | Learning Obsolescence Productivity Technological change |
| Kieli: | eng |
| Tiivistelmä: | The productivity slowdown in the US economy since the first oil shock has recently been associated with a larger decline rate of the relative price of equipment investment and a smaller rate of disembodied technical change. The authors set up a growth model in which learning-by-doing is the engine of both embodied and disembodied technological progress. A shift in the relative efficiency of learning-by-doing from the consumption to the investment sector is shown to imply a technological reassignment consistent with the above-mentioned evidence. |
SCIMA