Greenwood, Jeremy; Hercowitz, Zvi; Krusell, Per - In: American Economic Review 87 (1997) 3, pp. 342-62
The role that investment-specific technological change played in generating postwar U.S. growth is investigated here. The premise is that the introduction of new, more efficient capital goods is an important source of productivity change and an attempt is made to disentangle its effects from the...