Gilchrist, Simon (contributor); … - 2004
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lation where technology is embodied in new capital goods. Using a putty-clay
model of production and investment, we are able … rates of investment and
employment, and moderate rates of return to capital.
Keywords: putty-clay, embodied technology … growth model based on a putty-clay production technology and capital accumu-
lation with embodied technological change. The …