Embodied technological change learning-by-doing and the productivity slowdown

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

No 2002028, LIDAM Discussion Papers IRES 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: C63 E22 E32 O40 (search for similar items in EconPapers)
Pages: 15
Date: 2002-05-01
New Economics Papers: this item is included in nep-dev and nep-dge
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

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Related works:
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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