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Progreso técnico incorporado en un modelo de innovación horizontal


  • Fernando del Rio

    () (Universidade de Santiago de Compostela)


In 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.

Suggested Citation

  • Fernando del Rio, 2003. "Progreso técnico incorporado en un modelo de innovación horizontal," Documentos de trabajo - Analise Economica 0027, IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia.
  • Handle: RePEc:edg:anecon:0027

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    References listed on IDEAS

    1. Blanchard, Olivier & Jimeno, Juan F, 1995. "Structural Unemployment: Spain versus Portugal," American Economic Review, American Economic Association, vol. 85(2), pages 212-218, May.
    2. Roberto Bande & Melchor Fernández & Victor Montuenga, 2001. "Disparidades regionales en la tasa de paro: El papel del mecanismo de determinación salarial," Documentos de trabajo - Analise Economica 0018, IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia.
    3. Roberto Bande, 2002. "Ajustes Dinámicos en las Tasas de Paro: España vs. Portugal," Documentos de trabajo - Analise Economica 0020, IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia.
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    More about this item


    R&D; Embodiment; Endogenous Growth; Multiple Equilibria;

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; 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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