Construct · 1 fields · 1 citations

investment-specific technological change: a standalone construct

One name. One construct. A landmark on the map.

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Macroeconomics

technical progress that lowers the cost of producing new capital goods, observed as a falling relative price of equipment, and its role in growth and cycles.

In macroeconomics, investment-specific technological change refers to technical progress that lowers the cost of producing new capital goods, observed as a falling relative price of equipment, and its role in growth and cycles. This meaning comes from Greenwood (2000) in European Economic Review.[1]

Unit
Recovery means
Measured by

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Nearby constructs

capital2 fields · 3 citationsjingle · one word, two constructs cost4 fields · 4 citationsjingle · one word, four constructs growth4 fields · 4 citationsjingle · one word, four constructs

References

Greenwood, J., Hercowitz, Z., & Krusell, P. (2000). The role of investment-specific technological change in the business cycle. European Economic Review, 44(1), 91-115. https://doi.org/10.1016/s0014-2921(98)00058-0

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