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Author: Omar Licandro
Publisher:
ISBN:
Category :
Languages : en
Pages : 16
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Author: Omar Licandro
Publisher:
ISBN:
Category : Cambio tecnico
Languages : en
Pages : 32
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Author: Yasuo Murata
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 208
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Book Description
The effect of vintage of capital on a multi-sectoral economic growth model is examined. First, the author extends the substitution theorem to a dynamic system where various capital goods are classified not only in terms of their kinds but also in terms of their vintages. With no joint production, each commodity is assumed to have a Cobb-Douglas type of production function which is identical for all different vintages of its capital goods. In a steady-state equilibrium, capital-output ratios (in efficiency units when involving the capitalaugmenting technical progress) turn out to be invariant for individual vintages. It is also shown that all capitaland labor-output ratios in the economy take simple and easily calculated functions of only the interest rate and the trend values of technology. Current flow requirements per output, defined as depreciated part of capital goods, vary over time along with the distribution of their vintages. However, in a steady-state equilibrium they take invariant values in the case of no technological change. Second, the author is concerned with the existence of a unique balanced growth of production in our multi-sectoral model, which turns out to be a variant of the dynamic Leontief model. Making use o f the Hawkins-Simon conditions and the Frobenius theorem, we prove the existence of the balanced growth in abstraction from technological change, as well as in the case of technical progress. (Author).
Author: Edward J. Nell
Publisher: Springer
ISBN: 1349109479
Category : Business & Economics
Languages : en
Pages : 622
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Book Description
An examination of the role of Nicholas Kaldor within economics. Topics covered range from Kaldor's discovery of the Von Neumann input-output model, to cyclical growth in a Kaldorian model, to Nicholas Kaldor as advocate of commodity reserve currency.
Author: Jeremy Greenwood
Publisher: London, Ont. : Department of Economics, University of Western Ontario
ISBN:
Category : Capital investments
Languages : en
Pages : 48
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Author: Daniel J. Wilson
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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In this paper, I develop an industry-level index of capital-embodied R&D by capturing the extent of research and development directed at the capital goods in which a given industry invests. Compiling and adjusting data from the National Science Foundation and Commerce Department, I construct industry-level, time-series measures of this index and investigate its properties. The data allow me to identify the R&D directed at the development of specific types of capital rather than incorrectly assuming industry R&D spending is equivalent to R&D directed at the industry's product, an assumption typically made in the R&D literature. It is first shown that R&D directed at a type of capital is a good measure of its technological change. The constructed index of an industry's capital-embodied R&D is then compared to rates of embodied technological change estimated using plant-level manufacturing data. The index of embodied R&D is found to be positively and significantly related to the estimated rates of embodied technological change. Likewise, embodied R&D is shown to have a positive and significant effect on conventionally-measured total factor productivity growth (i.e. the Solow Residual). This has two implications. First, the capital component of the Solow Residual is generally mismeasured as it does not adequately capture technological change. Second, the constructed index of embodied R&D is proportional to true embodied technological change. Rates of embodied technological change are thus imputed for non-manufacturing industries using the estimated relationship between embodied R&D and embodied technological change found in the manufacturing data.
Author: Charles R. Hulten
Publisher: University of Chicago Press
ISBN: 0226360644
Category : Medical
Languages : en
Pages : 648
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Book Description
The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.
Author:
Publisher:
ISBN:
Category : Endowment of research
Languages : en
Pages : 246
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Book Description
Includes detailed statistical tables.
Author: Carol Corrado
Publisher: University of Chicago Press
ISBN: 0226116174
Category : Business & Economics
Languages : en
Pages : 602
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Book Description
As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.
Author: Philippe Aghion
Publisher: Princeton University Press
ISBN: 0691223939
Category : Business & Economics
Languages : en
Pages :
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Book Description
Macroeconomics would not be what it is today without Edmund Phelps. This book assembles the field's leading figures to highlight the continuing influence of his ideas from the past four decades. Addressing the most important current debates in macroeconomic theory, it focuses on the rates at which new technologies arise and information about markets is dispersed, information imperfections, and the heterogeneity of beliefs as determinants of an economy's performance. The contributions, which represent a breadth of contemporary theoretical approaches, cover topics including the real effects of monetary disturbances, difficulties in expectations formation, structural factors in unemployment, and sources of technical progress. Based on an October 2001 conference honoring Phelps, this incomparable volume provides the most comprehensive and authoritative account in years of the present state of macroeconomics while also pointing to its future. The fifteen chapters are by the editors and by Daron Acemoglu, Jess Benhabib, Guillermo A. Calvo, Oya Celasun, Michael D. Goldberg, Bruce Greenwald, James J. Heckman, Bart Hobijn, Peter Howitt, Hehui Jin, Charles I. Jones, Michael Kumhof, Mordecai Kurz, David Laibson, Lars Ljungqvist, N. Gregory Mankiw, Dale T. Mortensen, Maurizio Motolese, Stephen Nickell, Luca Nunziata, Wolfgang Ochel, Christopher A. Pissarides, Glenda Quintini, Ricardo Reis, Andrea Repetto, Thomas J. Sargent, Jeremy Tobacman, and Gianluca Violante. Commenting are Olivier J. Blanchard, Jean-Paul Fitoussi, Mark Gertler, Robert E. Hall, Robert E. Lucas, Jr., David H. Papell, Robert A. Pollak, Robert M. Solow, Nancy L. Stokey, and Lars E. O. Svensson. Also included are reflections by Phelps, a preface by Paul A. Samuelson, and the editors' introduction.
Author: Ernst R. Berndt
Publisher: University of Chicago Press
ISBN: 0226044319
Category : Business & Economics
Languages : en
Pages : 468
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Book Description
This volume contains papers presented at a conference in May 1988 in Washington, D.C., commemorating the fiftieth anniversary of the founding of the Conference on Research in Income and Wealth (CRIW). The call for papers emphasized assessments of broad topics in economic measurement, both conceptual and pragmatic. The organizers desired (and succeeded in obtaining) a mix of papers that, first, illustrate the range of measurement issues that economics as a science must confront and, second, mark major milestones of CRIW accomplishment. The papers concern prices and output (Griliches, Pieper, Triplett) and also the major productive inputs, capital (Hulten) and labor (Hamermesh). Measures of saving, the source of capital accumulation, are covered in one paper (Boskin); measuring productivity, the source of much of the growth in per capita income, is reviewed in another (Jorgenson). The use of economic data in economic policy analysis and in regulation are illustrated in a review of measures of tax burden (Atrostic and Nunns) and in an analysis of the data needed for environmental regulation (Russell and Smith); the adequacy of data for policy analysis is evaluated in a roundtable discussion (chapter 12) involving four distinguished policy analysts with extensive government experience in Washington and Ottawa.
