Economics, Econometrics and Finance
4 years ago

Investment-specific tech progress boosts capital productivity but harms employment and equilibrium.

2 views
MPRA Paper
Investment Specific Technological Progress and Structural Change
Ricardo Azevedo Araújo, Joanı́lio Rodolpho Teixeira

Paper Summary

The article explores how new technology that improves how businesses invest in equipment can impact the economy. The researchers looked at how this type of technology affects the way industries change over time. They found that while this new technology can make businesses more efficient, it can also lead to fewer jobs and make it harder for the economy to stay balanced.

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