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• W2032575089 abstract "Abstract The productivity slowdown in the US economy since the first oil shock has recently been associated with a larger decline rate of the relative price of equipment investment and a smaller rate of disembodied technical change. We set up a growth model in which learning‐by‐doing is the engine of both embodied and disembodied technological progress. A shift 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 in embodiment and the learning‐by‐doing engine." @default.
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• W2032575089 date "2003-03-01" @default.
• W2032575089 modified "2023-10-14" @default.
• W2032575089 title "Embodied Technological Change, Learning-by-doing and the Productivity Slowdown*" @default.
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• W2032575089 doi "https://doi.org/10.1111/1467-9442.00006" @default.
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