Cavallo, Michele; Landry, Anthony - Federal Reserve Bank of Dallas - 2010
-goods imports. While capital-goods imports were only 3.5 percent of E&S investment in 1967, by 2008 their share had risen tenfold to … 36 percent. The goal of this paper is to measure the contribution of capital-goods imports to growth in U.S. output per … hour using a simple growth accounting exercise. We find that capital-goods imports have contributed 20 to 30 percent to …
