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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 …
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This paper argues that investment-specific technological progress (ISTP) conventionally identified with the relative … price of investment, inevitably correlate with neutral technological progress in heterogeneous production networks …
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In this paper we investigate the determinants of the dramatic increase in services tradability focusing on the extensive margin of the phenomenon. We use balance sheet and firm-level service trade information over the period 1995-2005 provided by the National Bank of Belgium and we merge it with...
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