Investment-specific technical progress, capital obsolescence and job creation

Rio, Fernando del

doi:10.1016/j.labeco.2009.09.005

Labour Economics

2010

DOI: 10.1016/j.labeco.2009.09.005

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Investment-specific technical progress, capital obsolescence and job creation

Fernando del Rio

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Cited by 4 publications

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Obsolescence and productivity

Rio

Sampayo

2014

Port Econ J

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The increase in the obsolescence of intangible capital caused by the adoption of new information technologies can play an important role in accounting for the productivity slowdown undergone by the US economy since 1974. To explore this hypothesis, we have developed a standard growth model with physical and intangible capital in which technical progress is equipment-specific. We assume that the obsolescence of intangible capital increases when the equipment-specific technical progress accelerates. The model is calibrated for the period 1957-1973 and the response of the economy to an increase in the rate of equipment-specific technical progressas observed since 1974is simulated. We show that this setup can account for a large part of the post-1974 slowdown observed in productivity and in the Solow residual.

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Obsolescence and productivity

Rio

Sampayo

2014

Port Econ J

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The role of equipment investments in economic growth: a cointegration analysis

Škare

Sinković

2013

IJEPEE

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Obsolescence types and the built environment - definitions and implications

Butt¹,

Camilleri²,

Paul

et al. 2015

IJESD

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Investment-specific technical progress, capital obsolescence and job creation

Cited by 4 publications

References 48 publications

Obsolescence and productivity

Obsolescence and productivity

The role of equipment investments in economic growth: a cointegration analysis

Obsolescence types and the built environment - definitions and implications

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