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); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
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); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
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I study the effect of technical change on the equilibrium profit rate in Classical-Marxian models of economic growth with alternative closures. In each model, capitalists adopt a new technique of production only if it will increase the profit rate given their expectations about the movement of...
Persistent link: https://www.econbiz.de/10015070933