Capital Vintages and Technology Diffusion in Global Models

Scott McDonald, Karen Thierfelder and Terrie Walmsley

No 332384, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: This paper provides an examination of the implications associate with different types of technological change for the operation of recursive dynamic CGE models. The analyses contrast the implications of different types of technical changes – Hicks, Harrod and Solow neutral – for model performance and analyses the importance of tracking capital vintages to ensure that capital services as opposed to capital stocks are used in the model’s production functions. In addition it is noted that the interpretation of technical change in most CGE models does not coincide with the interpretation in the productivity literature; the adjustments necessary to calibrate recursive dynamic models are identified.

Keywords: Research and Development/Tech Change/Emerging Technologies; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 5
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/332384/files/6365.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:332384

Access Statistics for this paper

More papers in Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().