A Framework for Economic Growth with Capital-Embodied Technical Change
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Technological advance is often embodied in capital inputs. This paper develops a model where capital innovations occur on two margins: (1) vertically, where a capital input becomes more productive at a given task; and (2) horizontally, where a capital input replaces labor at a given task. These two
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美国国家经济研究局创建时间：
2022-09-01
