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Solow vs. Solow: Machine Prices and Development / Boyan Jovanovic, Rafael Rob.
- Format:
- Book
- Author/Creator:
- Jovanovic, Boyan.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w5871.
- NBER working paper series no. w5871
- Language:
- English
- Subjects (All):
- Machinery in the workplace.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Solow vs. Solow
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1997.
- Cambridge, Mass. : National Bureau of Economic Research, 1997.
- Summary:
- Machines are more expensive in poor countries, and the relation is pronounced. It is hard for a Solow (1956) type of model to explain the relation between machine prices and GDP given that in most countries equipment investment is under 10% of GDP. A stronger relation emerges in a Solow (1959) type of vintage model in which technology is embodied in machines.
- Notes:
- Print version record
- January 1997.
- Includes bibliographical references.
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