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Transition dynamics in vintage capital models : explaining the postwar catch-up of Germany and Japan

Gilchrist, Simon (contributor); … - 2004

Persistent link: https://www.econbiz.de/10003156157

Speculative growth and overreaction to technology shocks

Lansing, Kevin J. - Federal Reserve Bank of San Francisco - 2008

speculative agents overreact to observed technology shocks. When making forecasts about the future, speculative agents behave like … to confirm the stronger technology response. For moderate levels of risk aversion, the forecast errors observed by the … improvements in technology, investment and consumption booms, and faster trend growth, reminiscent of the U.S. economy during the …

Persistent link: https://www.econbiz.de/10005361519

On using relative prices to measure capital-specific technological progress

Marquis, Milton; Trehan, Bharat - Federal Reserve Bank of San Francisco - 2005

Recently, Greenwood, Hercowitz and Krusell (GHK) have identified the relative price of (new) capital with capital-specific technological progress. In a two-sector growth model, however, the relative price of capital equals the ratio of the productivity processes in the two sectors. Restrictions...

Persistent link: https://www.econbiz.de/10005712216

North-South technological diffusion and dynamic gains from trade

Connolly, Michelle P.; Valderrama, Diego - Federal Reserve Bank of San Francisco - 2005

This paper studies the transitional dynamics in a quality ladder model of endogenous growth in which North-South trade leads to technological diffusion through reverse engineering of intermediate goods. The concept of learning-to-learn is incorporated into both imitative and innovative...

Persistent link: https://www.econbiz.de/10005721470

Technology diffusion and postwar growth

Comin, Diego; Hobijn, Bart - Federal Reserve Bank of San Francisco - 2010

and technical assistance in the same period. We interpret this as supportive of the interpretation that technology …

Persistent link: https://www.econbiz.de/10008504596

Are there productivity spillovers from foreign direct investment in China?

Hale, Galina; Long, Cheryl - Federal Reserve Bank of San Francisco - 2007

We review previous literature on productivity spillovers of foreign direct investment (FDI) in China and conduct our own analysis using a firm-level data set from a World Bank survey. We find that the evidence of FDI spillovers on the productivity of Chinese domestic firms is mixed, with many...

Persistent link: https://www.econbiz.de/10005498406

The role of capital service-life in a model with heterogenous labor and vintage capital

Marquis, Milton H.; Tantivong, Wuttipan; Trehan, Bharat - Federal Reserve Bank of San Francisco - 2009

We examine how the economy responds to both disembodied and embodied technology shocks in a model with vintage capital … accelerated. We find that embodied technology shocks lead to greater variability (of output, investment and labor allocations …

Persistent link: https://www.econbiz.de/10008603770

Human capital and technology diffusion

Benhabib, Jess; Spiegel, Mark M. - Federal Reserve Bank of San Francisco - 2002

This paper generalizes the Nelson-Phelps catch-up model of technology diffusion. We allow for the possibility that the … pattern of technology diffusion can be exponential, which would predict that nations would exhibit positive catch-up with the …

Persistent link: https://www.econbiz.de/10005401541

Embodying embodiment in a structural, macroeconomic input-output model

Wilson, Daniel J. - Federal Reserve Bank of San Francisco - 2001

This paper describes an attempt to build a regression-based system of labor productivity equations that incorporate the effects of capital-embodied technological change into IDLIFT, a structural, macroeconomic input-output model of the U.S. economy. Builders of regression-based forecasting...

Persistent link: https://www.econbiz.de/10005401573

Importing technology

Caselli, Francesco; Wilson, Daniel - Federal Reserve Bank of San Francisco - 2003

We look at disaggregated imports of various types of equipment to make inferences on cross-country differences in the composition of equipment investment. We make three contributions. First, we document large differences in investment composition. Second, we explain these differences as being...

Persistent link: https://www.econbiz.de/10005401584