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expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …
Persistent link: https://www.econbiz.de/10003791799
Persistent link: https://www.econbiz.de/10010474407
expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …
Persistent link: https://www.econbiz.de/10003779148
expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …
Persistent link: https://www.econbiz.de/10010264503
expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …
Persistent link: https://www.econbiz.de/10011422187
We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …
Persistent link: https://www.econbiz.de/10011568791
This paper develops a static model of endogenous task-based technical progress to study how factor scarcity induces technological progress and changes in factor prices. The equilibrium technology is multi-dimensional and not strongly factor-saving in the sense of Acemoglu (2010). Nevertheless,...
Persistent link: https://www.econbiz.de/10012200235
At least since 1870 hours worked per worker declined and real wages increased in many of today's industrialized countries. The dual nature of technological progress in conjunction with a consumption-leisure complementarity explains these stylized facts. Technological progress drives real wages...
Persistent link: https://www.econbiz.de/10011782121