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Technological-knowledge dynamics in lab-equipment models of quality ladders

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  • Pedro Mazeda Gil
  • Oscar Afonso

Abstract

The Perpetual Inventory Model (PIM) assumes that, in each period, an arbitrary constant fraction of technological-knowledge stock is lost. We give a theoretical background to the PIM by showing that the technological-knowledge accumulation follows a dynamic process with an endogenous depreciation rate, which remains stable in steady state.

Suggested Citation

  • Pedro Mazeda Gil & Oscar Afonso, 2011. "Technological-knowledge dynamics in lab-equipment models of quality ladders," Applied Economics Letters, Taylor & Francis Journals, vol. 18(4), pages 333-336.
    • Handle: RePEc:taf:apeclt:v:18:y:2011:i:4:p:333-336
    DOI: 10.1080/13504851003670635
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    More about this item

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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