Costly Technology Adoption and Capital Accumulation
نویسندگان
چکیده
منابع مشابه
Costly Technology Adoption and Capital Accumulation
We develop a model of costly technology adoption where the cost is irrecoverable and fixed. Households must decide when to switch from an existing technology to a new, more productive technology. Using a recursive approach, we show that there is a unique threshold level of wealth above which households will adopt the new technology and below which they will not. This threshold is independent of...
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Copyright 2005 by Kenneth A. Baerenklau and Keith C. Knapp. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on such copies.
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The paper presents a model of technology adoption with endogenous supply of human capital. I investigate the effects of skill bias technical change in the frontier economies on the evolution of output, the quantity and quality of human capital in the adopting countries. The framework introduces a novel feature by connecting the direction of technology adoption to a sequential process of skill a...
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2002
ISSN: 1094-2025
DOI: 10.1006/redy.2002.0167