This paper explores the relationship between capital composition and productivity using a unique and remarkably … capital types, including computers, communications equipment, and software, are associated with current and subsequent years … exist for a number of key capital types. I also provide evidence of complementaries and substitutabilities among capital …

This paper explores the relationship between capital composition and productivity using a unique and remarkably … capital types, including computers, communications equipment, and software, are associated with current and subsequent years … exist for a number of key capital types. I also provide evidence of complementaries and substitutabilities among capital …

The standard argument for abstracting from capital accumulation in sticky-price macro models is based on their short …-run focus: over this horizon, capital does not move much. This argument is more problematic in the context of real exchange rate … (RER) dynamics, which are very persistent. In this paper we study RER dynamics in sticky-price models with capital …