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investment-specific technological change as a main driving force behind long-run growth and the business cycle. This paper shows … how the growth model with investment-specific technological change has a closed-form solution if capital fully depreciates …
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well. By implication, policies that stimulate investment and R&D and policies that affect the size of the labor force may …
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accounting school appears due to limitations existing in the measures in efficiency units of the quality of the real investment …, because of the investment is not really comparable along the time. The analysis is based in to adjust the quality or … productivity of the investment goods constructing hedonic prices indices. This school is represented among others by Hulten (1992 …
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