Sammanfattning

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. (C) 2013 Elsevier B.V. All rights reserved.

Nyckelord

Growth; Directed technological change; Knowledge spillovers

Publicerad i

Economics Letters
2013, Volym: 119, nummer: 1, sidor: 77-80
Utgivare: ELSEVIER SCIENCE SA

SLU författare

• Hart, Robert

  • Institutionen för ekonomi, Sveriges lantbruksuniversitet
    

UKÄ forskningsämne

Nationalekonomi


Publikationens identifierare

DOI: https://doi.org/10.1016/j.econlet.2013.01.028

Permanent länk till denna sida (URI)

https://res.slu.se/id/publ/41808