Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
967996 | Journal of Monetary Economics | 2007 | 11 Pages |
Abstract
Two approaches taken to the embodiment question are compared and discussed: quantitative theory and traditional growth accounting. The two approaches give very different estimates for the contribution of investment-specific technological advance to economic growth. Therefore, the approach taken matters. It is argued that the measures used in traditional growth accounting to gauge the importance of investment-specific technological progress have little economic content, unlike the measure obtained from quantitative theory.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Jeremy Greenwood, Per Krusell,