Directed technological change and factor shares

Rob Hart

Economics Letters, 2013, vol. 119, issue 1, 77-80

Abstract: Directed technological change (DTC) concerns how stocks of factor-augmenting knowledge evolve relative to each other. We model investment in factor-augmenting knowledge at firm level, and show that relative investment rates depend on the relative factor shares and elasticities. Furthermore, we argue that links between the knowledge stocks and substitution between final goods are crucial to the long-run evolution of the economy.

Keywords: Growth; Directed technological change; Knowledge spillovers (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176513000475
Full text for ScienceDirect subscribers only

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:eee:ecolet:v:119:y:2013:i:1:p:77-80

DOI: 10.1016/j.econlet.2013.01.028

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().