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• W2155863585 abstract "I analyze an economy in which profit-maximizing firms can undertake both labor- or capital-augmenting technological improvements. In the long run, the economy looks like the standard growth model with purely labor-augmenting technical change, and the share of labor in GDP is constant. Along the transition path, however, there is capital-augmenting technical change and factor shares change. A range of policies may have counterintuitive implications due to their effect on the direction of technical change. For example, taxes on capital income reduce the labor share in the short run, but increase it in the medium/long run." @default.
• W2155863585 created "2016-06-24" @default.
• W2155863585 creator A5012301204 @default.
• W2155863585 date "2003-01-01" @default.
• W2155863585 modified "2023-09-23" @default.
• W2155863585 title "Labor- and Capital-Augmenting Technical Change" @default.
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• W2155863585 doi "https://doi.org/10.2139/ssrn.372820" @default.
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