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The paper analyzes the effect of human-capital investments of heterogeneous individuals on the dynamics of the wage structure within a neoclassical growth model. The accumulation of physical capital changes relative factor prices and thus incentives to acquire skills, thereby altering the...
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This book investigates the relation between investment, R&D, and long-run growth. Its first part surveys the literature … economic growth as being driven by the complementary processes of physical capital investment and R&D activity, rather than by … of this study acquires a fundamental understanding of the relation between investment, R&D, and long-run growth. Thus …
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