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The productivity generated by capital goods is not uniform along the time. When there exist conventional physical … capital goods the productivity obtained is minor that the one generated by quality capital goods. To obtain a correct measure … productivity of the investment goods constructing hedonic prices indices. This school is represented among others by Hulten (1992 …
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We construct a vintage capital model in which worker skills lie along a continuum and workers can be paired with different vintages (as technology evolves) under a matching rule of best worker with the best machine. Labor reallocation in response to technology shocks has two key implications for...
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We study how the timing of technology adoption through capital accumulation shapes firm-level productivity dynamics and … and exploiting the lumpiness of capital accumulation, we document that large investment episodes lead to productivity …
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