Long-Run Implications of Investment-Specific Technological Change

Name: Work Video:
Duration: 3 min 30 s
Description: an attempt is made to disentangle its effects from the more traditional Hicksneutral form of technological progress. The balanced growth path for the model is characterized and calibrated to U.S. National Income and Product Account (NIPA) data. The quantitative analysis suggests that investment-specific technological change accounts for the major part of growth. (JEL E13, 030, 041, 047)
Jeremy Greenwood; Zvi Hercowitz; Per Krusell
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