Progreso técnico incorporado en un modelo de innovación horizontal
AbstractIn this paper I develop a model of endogenous technical progress which is embodied in capital. In this framework the relative price of capital is decreasing. Strategic complementarities arising from embodiment might cause multiplicity of equilibria and threshold effects might appear. the vintage structure of the model allows to explain some empirical facts on capital accumulation at the plant level and on job creation and destruction.
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Bibliographic InfoPaper provided by IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia in its series Documentos de trabajo - Analise Economica with number 0027.
Length: 29 pages
Date of creation: 2003
Date of revision:
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R&D; Embodiment; Endogenous Growth; Multiple Equilibria;
Find related papers by JEL classification:
- E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
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