Embodied Technological Change, Learning‐by‐doing and the Productivity Slowdown*

Raouf Boucekkine (), Fernando del Río and Omar Licandro ()

Scandinavian Journal of Economics, 2003, vol. 105, issue 1, 87-98

Abstract: The productivity slowdown in the US economy since the first oil shock has recently been associated with a larger decline rate of the relative price of equipment investment and a smaller rate of disembodied technical change. We set up a growth model in which learning‐by‐doing is the engine of both embodied and disembodied technological progress. A shift in the relative efficiency of learning‐by‐doing from the consumption to the investment sector is shown to imply a technological reassignment consistent with the above‐mentioned evidence. This result derives from the interaction between the obsolescence costs inherent in embodiment and the learning‐by‐doing engine.

Date: 2003
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https://doi.org/10.1111/1467-9442.00006

Related works:
Working Paper: Embodied technological change, learning-by-doint and the productivity slowdown (2003)
Working Paper: Embodied technological change learning-by-doing and the productivity slowdown (2002)
Working Paper: Embodied Technological Change, Learning-by-Doing and the Productivity Slowdown (2002)
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