Capital specialization and aggregate productivity

Nelson Sa

Economics Bulletin, 2016, vol. 36, issue 3, 1398-1409

Abstract: This paper makes use of a Dixit-Stiglitz framework to dissect the combined productivity effects of capital variety and average capital specificity under general equilibrium. The impact of key parameters like entry costs, market size or price elasticities of demand on these variables is shown to differ according to whether agglomeration effects are present or not and how strong they are.

Keywords: Specialization; Productivity; Dixit-Stiglitz (search for similar items in EconPapers)
JEL-codes: L1 O4 (search for similar items in EconPapers)
Date: 2016-07-17
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