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and non-residential investment fall sharply. Output changes little. With a lag of several years, inputs and investment …-price models, which predict the results we find: When technology improves, input use and investment demand generally fall in the …
Persistent link: https://www.econbiz.de/10012468101
We present a model of growth and technology transfer based on the idea that technologies are specific to particular combinations of inputs. We argue that this model is more realistic than the usual specification, in which an improvement in any technique for producing a given good improves all...
Persistent link: https://www.econbiz.de/10012472963