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Technology adoption and growth

  • Stephen L. Parente
  • Edward C. Prescott

Technology change is modeled as the result of decisions of individuals and groups of individuals to adopt more advanced technologies. The structure is calibrated to the U.S. and postwar Japan growth experiences. Using this calibrated structure we explore how large the disparity in the effective tax rates on the returns to adopting technologies must be to account for the huge observed disparity in per capita income across countries. We find that this disparity is not implausibly large.

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Paper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 136.

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Date of creation: 1991
Date of revision:
Publication status: Published in Journal of Political Economy (Vol. 102, n.2, 1994, pp. 298-321)
Handle: RePEc:fip:fedmsr:136
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  14. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  15. Michele Boldrin & Jose A. Scheinkman, 1988. "Learning-By-Doing, International Trade and Growth: A Note," UCLA Economics Working Papers 462, UCLA Department of Economics.
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  17. Murphy, K. & Welch, F., 1989. "Recent Trends In Real Wages: Evidence From Household Data," Papers 24, California Los Angeles - Applied Econometrics.
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