Publication
Obsolescence and productivity
| dc.contributor.author | Rio, Fernando del | |
| dc.contributor.author | Sampayo, Antonio | |
| dc.date.accessioned | 2018-06-25T14:16:13Z | |
| dc.date.available | 2018-06-25T14:16:13Z | |
| dc.date.issued | 2014-12 | |
| dc.description.abstract | The increase in the obsolescence of intangible capital caused by the adop- tion 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 intangi- ble capital in which technical progress is equipment–specific. We assume that the obsolescence of intangible capital increases when the equipment–specific techni- cal 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 progress — as observed since 1974 — is 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. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Rio, Fernando del e Antonio Sampayo (2014). "Obsolescence and productivity". Portuguese Economic Journal, 13(3):195-216 | pt_PT |
| dc.identifier.doi | 10.1007/s10258-014-0106-6 | pt_PT |
| dc.identifier.issn | 1617-982X (print) | |
| dc.identifier.issn | 1617-9838 (online) | |
| dc.identifier.uri | http://hdl.handle.net/10400.5/15722 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.publisher | Springer Verlag | pt_PT |
| dc.subject | Obsolescence | pt_PT |
| dc.subject | Intangible capital | pt_PT |
| dc.subject | Equipment–specific technical progress | pt_PT |
| dc.subject | Productivity slowdown | pt_PT |
| dc.title | Obsolescence and productivity | pt_PT |
| dc.type | journal article | |
| dspace.entity.type | Publication | |
| oaire.citation.conferencePlace | Lisboa | pt_PT |
| oaire.citation.endPage | 216 | pt_PT |
| oaire.citation.issue | 3 | pt_PT |
| oaire.citation.startPage | 195 | pt_PT |
| oaire.citation.title | Portuguese Economic Journal | pt_PT |
| oaire.citation.volume | 13 | pt_PT |
| rcaap.rights | closedAccess | pt_PT |
| rcaap.type | article | pt_PT |