http://web.mit.edu/course/14/14.451/www/451_Problem_Set_1.pdf WebThe effect of vintage of capital on a multi-sectoral economic growth model is examined. First, the author extends the substitution theorem to a dynamic system where various capital goods are classified not only in terms of their kinds but also in terms of their vintages. With no joint production, each commodity is assumed to have a Cobb-Douglas type of …
Disembodied Technical Progress: Theory and Measurement
WebDec 30, 2024 · THIS IS THE SIXTH VIDEO CLEARING THE CONCEPT OF TECHNICAL PROGRESS IN ECONOMIC GROWTH MODELS WITH SPECIAL ATTENTION TO VINTAGE APPROACH OR EMBODIED TECHNICAL... Webtechnical progress may be either embodied or disembodied. Embodied technical progress in the Cobb-Douglas model has no influence on the elasticities of output with respect to labor and with respect to the net capital stock. In that model, it is not possible … third novel by george eliot
Embodied technological progress, technology-related …
WebApr 13, 2024 · Abstract. To recalibrate the connection between participation in global value chains (GVCs) and carbon embodied in trade is of great importance because it provides significant insights about how China's forest products industry should integrate into GVCs and promotes the reduction of carbon embodied in trade. This paper obtains panel data … WebApr 3, 2012 · This paper combines technology adoption with capital accumulation taking into account technological progress. We model this as a multi-stage optimal control problem and solve it using the corresponding maximum principle. The model with linear revenue … WebAbstract In this paper we build up a canonical vintage capital model with embodied and disembodied technical progress and generalized Nash bargaining in the labor market. First, we handle both types of technical progress as exogenous, but we endogenize … third noun gender