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2 edition of Growth accounting when technical change is embodied in capital found in the catalog.

Growth accounting when technical change is embodied in capital

Charles R. Hulten

Growth accounting when technical change is embodied in capital

by Charles R. Hulten

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  • 7 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Industrial productivity -- United States -- Econometric models.,
  • Technological innovations -- United States -- Econometric models.

  • Edition Notes

    StatementCharles R. Hulten.
    SeriesNBER working papers series -- working paper no. 3971, Working paper series (National Bureau of Economic Research) -- working paper no. 3971.
    ContributionsNational Bureau of Economic Research.
    The Physical Object
    Pagination36 p. ;
    Number of Pages36
    ID Numbers
    Open LibraryOL22439023M

    (19) tells us that capital growth depends negatively on the capital-output ratio. So higher saving rates can produce temporary increases the growth rate of output, but canot get the economy to a path involving a faster steady-state growth rate. Growth Accounting versus Growth Theory. Capital-embodied technical change and the productivity growth slowdown in Canada. [Ottawa]: Industry Canada, [] (OCoLC) Material Type: Internet resource: Document Type: Book, Internet Resource: All Authors / Contributors: Surendra Gera; Wulong Gu; .

      Growth Accounting: A method whereby a set of economic techniques or theories are used to determine what specific factor, or factors, contributed to an economy's growth. Embodied technical change and learning-by-doing in a two-sector growth model with human capital accumulation. those years witnessed a remarkable increase in capital-embodied technological improvements (think, for example, of the introduction of new and more powerful computers into the production process and of the robotization of assembly.

    improvement in labor created by the education and knowledge embodied in the workforce analysis based on growth accounting - education and its effect on productivity is an even more important determinant of growth than increases in physical capital. Explaining Modern Growth Gregory Clark, This supplement to the book gives a more detailed exposition of the mathematics of modern growth, and what it implies about the sources of growth. Here we explain in more detail the technique called growth accounting which.


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Growth accounting when technical change is embodied in capital by Charles R. Hulten Download PDF EPUB FB2

Growth Accounting When Technical Change is Embodied in Capital Charles R. Hulten. NBER Working Paper No. Issued in January NBER Program(s):Productivity, Innovation, and Entrepreneurship Many technological innovations are introduced through improvements in the design of new investment goods, thus raising the possibility that capital-embodied technical change may be a.

Get this from a library. Growth accounting when technical change is embodied in capital. [Charles R Hulten; National Bureau of Economic Research.].

Growth Accounting When Technical Change Is Embodied in Capital This paper revisits the hypothesis that technical change is embodied in capital.

It extends old results to make them more relevant to the contemporary debates about the adjustment of investment goods for quality change and about the role of embodied technical change as a source of. Downloadable. Many technological innovations are introduced through improvements in the design of new investment goods, thus raising the possibility that capital-embodied technical change may be a significant source of total factor productivity growth.

There are, however, no systematic estimates of the size of the embodiment effect. This paper attempts to fill this gap by merging the estimates. Downloadable (with restrictions).

This paper revisits the hypothesis that technical change is embodied in capital. It extends old results to make them more relevant to the contemporary debates about the adjustment of investment goods for quality change and about the role of embodied technical change as a source of economic growth.

It is shown that the failure to adjust capital for quality. Growth Accounting When Technical Change Is Embodied in Capital. Charles R Hulten. American Economic Review,vol. 82, issue 4, Abstract: This paper revisits the hypothesis that technical change is embodied in capital.

It extends old results to make them more relevant to the contemporary debates about the adjustment of investment. Growth Accounting When Technical Change Is Embodied in Capital.

By Charles R Hulten. Abstract. This paper revisits the hypothesis that technical change is embodied in capital. It extends old results to make them more relevant to the contemporary debates about the adjustment of investment goods for quality change and about the role of embodied.

Growth Accounting When Technical Change is Embodied in Capital. By Charles R. Hulten. Get PDF ( KB) Abstract. Many technological innovations are introduced through improvements in the design of new investment goods, thus raising the possibility that capital-embodied technical change may be a significant source of total factor productivity.

For the same reasons, TFP growth can be identified neither with disembodied nor with embodied technical change. Embodied technical change in capital-using industries is a reflection of disembodied technical change in capital-producing industries, but neither need necessarily show up in the TFP numbers, as long as R&D costs have been properly.

Embodied Technical Change: Solow modified the residual approach himself based on disembodied technical change where in capital stock is regarded as homogeneous and technical change floats down from the outside. According to F.H. Hahn and R.C.O. Mathews, “In this model, new capital accumulation is regarded as the vehicle of technical progress.

First, the role of investment-specific technological change as an engine of growth is even larger than previously estimated. Second, existing producer durable price indices do not adequately account for quality change.

As a result, measured capital stock growth is biased. Growth Accounting When Technical Change Is Embodied in Capital By CHARLES R. HULTEN* This paper revisits the hypothesis that technical change is embodied in capital. It extends old results to make them more relevant to the contemporary debates about the adjustment of investment goods for quality change and about the role of embodied technical.

Growth Accounting When Technical Change Is Embodied in Capital. This paper revisits the hypothesis that technical change is embodied in capital. It extends old results to make them more. SELECTED PAPERS INTANGIBLE CAPITAL AND THE NEW ECONOMY. Hulten, Charles, and Leonard Nakamura, "Accounting for Growth in the Age of the Internet: The Importance of Output-Saving Technical Change," NBER Working PaperApril (revised).Hulten, Charles, "The Importance of Education and Skill Development for Economic Growth in the Information Era," in Education, Skills, and Technical.

Growth Accounting (end) Thus the rate of growth of output is the sum of productivity growth and the share weight sum the growth of factors of production.

We observe: y, k, h. Requires e ort and much attention to detail. Calculation where the devil is in the details. Direct measurement of the rate of growth of productivity is not credible. Growth accounting is a procedure used in economics to measure the contribution of different factors to economic growth and to indirectly compute the rate of technological progress, measured as a residual, in an economy.

Growth accounting decomposes the growth rate of an economy's total output into that which is due to increases in the contributing amount of the factors used—usually the. We show that the growth rate now depends positively on the rate of embodied technical change, and that it is higher than the original growth rate in the Romer () model.

However, the rate of growth of the system now also depends negatively on the rate of growth of real energy prices, implying that continuously rising real energy prices will. Mapping the Model to Data Growth Accounting Growth Accounting V Reasons for mismeasurement: what matters is not labor hours, but e⁄ective labor hours importantŠ though di¢ cultŠ to make adjustments for changes in the human capital of workers.

measurement of capital inputs: in the theoretical model, capital corresponds to the –nal good. embodied technical change derived from capital investment. 8 This might not be true, however, for some vessel characteristics; for example, greater length could potentially imply an older m ore.

3 Some problems with growth accounting Problems in measuring capital, and the tyranny of numbers One problem with growth accounting is that technological progress is often embodied in new capital goods, which makes it hard to separate the in fluence of capital accumulation from the influence of innovation.

A) technological change. growth in physical capital. growth in human capital. balanced growth of labour and capital. growth in the labour force. A 81) Sustained economic growth in the long run would be fostered by A) technological improvements embodied in physical or human capital.

B) expansionary fiscal policy. C) expansionary monetary policy.where Y t' K t' and L t are the quantities of real aggregate output, capital and labor respectively at time t and t is an index of chronological time.

2 The purpose of growth accounting is to determine from the empirical data how much of the change in real output between say t = 0 and t = 1 can be attributed to changes in the inputs, capital.3 Growth accounting under endogenous technical change In the previous section, we have shown that the two conventional approaches to growth accounting give rise to drastically di⁄erent implications on the contribution of capital to economic growth.

The di⁄erence arises for .