Real equipment investment in the United States has boomed in recent years, led by soaring investment in computers. We … capital. We document that these two features stem from the special behavior of investment in computers and therefore propose a …

of technology is embodied in the capital stock. Classic papers from the late 1950's and 1960's show that non …-optimization models display the same asymptotic growth rates whether technology is embodied (vintage capital) or disembodied. This paper …

technology adoption depends on factors other than industry type. We present a model in which the factors that lead to … heterogeneous technology adoption play a key economic role in explaining other aspects of the U.S. economy that have been the focus … of recent theoretical work, including wage and technology dispersion within and between skill groups and the U …