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| Contributor | Plutarchos Sakellaris, University of Maryland, University of Ioannina and IMOP |
| Title of paper | Embodied Technological Change and Measurement: Old- and New-Economy Issues |
| Abstract | Embodied technological change (ETC) –or quality change– refers to the productivity gains resulting from the use of new capital above and beyond the gains obtainable from a comparable amount of pre-existing capital. Capital assets exhibiting ETC are characterized by relatively rapid advances in the technologies of the sectors that pro-duce them and by drops in their relative prices. This paper argues that much of the quality growth in equipment assets still goes unmeasured with important consequences for the measurement and understanding of aggregate output growth. |
| Full document | Embodied Technological Change and Measurement: Old- and New-Economy Issues |
This page last revised: Monday 12 August 2002
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