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Technological sources of productivity growth in Japan, the U.S. and Germany

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Author Info

  • Jesús Rodríguez López

    () (Department of Economics, Universidad Pablo de Olavide)

  • José Luis Torres Chacón

    () (Departamento de Teoría e Historia Económica de la Universidad de Málaga)

Abstract

In this paper, we use a dynamic general equilibrium growth model to quantify the contribution of different technological sources to productivity growth in the three leading economies: Germany, Japan, and the U.S. The sources of technology are classified as representing either neutral progress or investment-specific progress. The latter can be split into two different types of equipment: information and communication technologies (ICT) and non-ICT equipment. We find that in the long run, neutral technological change is the main source of productivity growth in Germany. For Japan and the U.S., the main source of productivity growth is investment-specific technological change, mainly associated with ICT. We also find that a non negligible part of productivity growth has been due to technology specific to non-ICT equipment; this is mainly true after 1995.

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File URL: http://www.upo.es/serv/bib/wps/econ0909.pdf
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File URL: http://www.upo.es/serv/bib/wps/econ0909R.pdf
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Bibliographic Info

Paper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 09.09.

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Length: 29 pages
Date of creation: Nov 2009
Date of revision: Mar 2010
Handle: RePEc:pab:wpaper:09.09

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Keywords: Productivity growth; Investment-specific progress; Neutral progress; Information and communication technology.;

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References

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  2. Greenwood, J. & Hercowitz, Z. & Krusell, P., 1998. "The Role of Investment-Specific Technological Change in the Business Cycle," RCER Working Papers 449, University of Rochester - Center for Economic Research (RCER).
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Cited by:
  1. Georg Duernecker, 2008. "Technology Adoption, Turbulence and the Dynamics of Unemployment," Economics Working Papers ECO2008/10, European University Institute.

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