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Solow vs. Solow: Machine Prices and Development

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NBER1997-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w5871
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Machines are more expensive in poor countries, and the relation is pronounced. It is hard for a Solow (1956) type of model to explain the relation between machine prices and GDP given that in most countries equipment investment is under 10% of GDP. A stronger relation emerges in a Solow (1959) type
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1997-01-01
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