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We analyze the impact of obsolescence of economic inventions by incorporating maintenance costsin the endogenous growth model of expanding product varieties. This contrasts with the existingliterature, which ignores maintenance costs and uses the model of quality improvements todescribe...
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in many advanced economies. While process innovation can be job-destroying, product innovation can imply the emergence of … new firms, new sectors, and thus new jobs. But even for process innovation, the final impact on labor demand is shaped by … impede them. Policies should maximize the job-creation effect of product innovation and minimize the direct labor …
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innovation in the AI supply industries. However, this effect is small in magnitude and limited to service sectors and younger …
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important differences between Japanese and US energy firms: lower elasticity of the innovation production function in R …&D expenditure, lower probability of radical innovation, and predominance of dirty technologies in Japan. This may explain our …
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