Embodied technological change learning-by-doing and the productivity slowdown
Raouf Boucekkine (),
Fernando DEL Rio and
Omar Licandro ()
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Fernando DEL Rio: Universidad de Santiago de Composela
No 2002028, Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)
The productivity slowdown faced by the US economy since the first oil shock has been associated with a rise in the decline rate of the relative price of equipment and a reduction in the rate of disembodied technical change. We build up a growth model in which learning-by-doing is the engine of both embodied and disembodied technological progress. A change 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 to embodiment and the learning-by-doing engine.
Keywords: Embodied technical progress; Obsolescence; Learning-by-doing; Productivity slowdown (search for similar items in EconPapers)
JEL-codes: E22 E32 O40 C63 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev and nep-dge
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Journal Article: Embodied Technological Change, Learning‐by‐doing and the Productivity Slowdown* (2003)
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)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2002028
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