Equilibrium Price Distribution with Directed Technical Change
This paper studies a non-degenerate price distribution for the homogeneous good within a model of endogenous directed technical change. A probability density function is analytically derived and shown to be related to the technology and innovation parameters of the model.
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- Daron Acemoglu & Fabrizio Zilbotti, 1999.
NBER Working Papers
6879, National Bureau of Economic Research, Inc.
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