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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)

Abstract: 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
Date: 2002-05-01
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Related works:
Journal Article: Embodied Technological Change, Learning‐by‐doing and the Productivity Slowdown* (2003) Downloads
Working Paper: Embodied technological change, learning-by-doint and the productivity slowdown (2003) Downloads
Working Paper: Embodied Technological Change, Learning-by-Doing and the Productivity Slowdown (2002) Downloads
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