The "Embodiment" Controversy
AbstractThe "embodiment" controversy between Jorgenson and Solow in the 1960s centered on the importance of capital-embodied technological change. It technological change is "disembodied", it affects output growth independently of capital accumulation. In contrast, "embodied" technological change requires investment in order to affect output. Hence, diagnostics about the relative importance of the two forms of technological change is crucial for learning about the transmission mechanism of technological progress to output growth.
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Bibliographic InfoPaper provided by Tel Aviv - the Sackler Institute of Economic Studies in its series Papers with number 9-97.
Length: 8 pages
Date of creation: 1997
Date of revision:
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Postal: Tel-Aviv University, The Sackler Institute of Economic Studies, Ramat Aviv 69 978 Tel-Aviv, Israel
Web page: http://econ.tau.ac.il/
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