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that factor accumulation, savings and investment were central to the rapid growth experience. This paper develops an …
Persistent link: https://www.econbiz.de/10014035979
This paper models the relationship between innovation and sustained economic growth through as being mediated by institutions that calibrate a 'structure of technological production' analogous to capital-based models of the structure of production. Our framework discusses two types of capital:...
Persistent link: https://www.econbiz.de/10013237452
This paper presents a neoclassical-growth model in which long-run growth is driven by the continuous specialization of capital. The specialization of capital is the allocation of capital into sets of specialized capital and the coordination required for different individuals to use the same set...
Persistent link: https://www.econbiz.de/10012833938
investment more credible while another set of relations did not, this study provides the outlines of a story that can both …
Persistent link: https://www.econbiz.de/10014033889
Capital estimates are widely used in economic growth and productivity studies, for profitability considerations and wealth accounting exercises. Yet the calculation of "capital" frequently receives only cursory attention, despite the challenges posed by conceptual difficulties, the complexity of...
Persistent link: https://www.econbiz.de/10011653808
This study highlights the importance of investment-specific technological (IST) progress in affecting the business … investment goods across different vintages, which raises payouts from new investments while inducing capital losses of older … investment goods. I develop a DSGE model that focuses on asset valuation by capital owners, considering their net wealth. The …
Persistent link: https://www.econbiz.de/10013322512
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Persistent link: https://www.econbiz.de/10008746448
Persistent link: https://www.econbiz.de/10003389107
"East Asia has re-emerged after a long eclipse as a centre of world wealth creation and growth. Over the past four decades the region's share of world GDP has risen from less than 10 to 30 percent, a ratio that is set to rise to 40 percent by 2030. What has made East Asia's remarkable ascent...
Persistent link: https://www.econbiz.de/10011377933