In this paper we introduce investment specific technical progress into Pasinetti’s model of structural change. Our aim is to assess the effects of embodied technical progress on economic growth and macroeconomic variables. Our findings suggest that despite the fact that this type of technical progress increases the productivity of capital, it has negative effects on conditions that promote full...

In this paper the impact of investment specific technical progress on investment allocation is studied by using an extended version of the Feldman’s two sector model that takes into account embodied technical progress. The aim of the paper is to analyze the impact of investment specific technical progress on the optimal allocation of investment, economic growth and structural change.

a r t i c l e i n f o JEL classification: C61 D92 Keywords: Price induced technical progress Disembodied technical progress Comparative dynamics Optimal control Testable implications A theory of a wealth maximizing, capital accumulating, price taking firm facing adjustment costs and operating in the presence of disembodied and price-induced technical progress is developed. The testable implicat...

Controlling for socioeconomic and geographic factors, under-5 mortality (5q0) in developing countries has been declining at about 2.7% per year, a high rate of 'technical progress'. This paper adduces theoretical and empirical reasons for rejecting the usual specification of homogeneous technical progress across countries and uses a panel of 95 developing countries for the period 1970-2000 to e...

The development of progress plans for each identified technical performance parameter (TPP) is a critical element of technical performance measurement. The measured values of TPPs are referred to as technical performance measures (TPMs). These terms are used interchangeably; however, TPMs more directly reflect how technical progress and technical risk are measured and evaluated. Progress plans,...

Process Improvement has been used for decades as a means to become better and more efficient. Whilst many organizations have used considerable resources for process improvement, investments in process improvement have not always led to changes and improvements expected. One most important aspects of management is to motivate the work force. However, management often fails to deliver. In fact, b...

Exact optimal paths are calculated for two closed economies, each with an accumulable capital, a non-renewable resource and exogenous technical progress. The first economy has hyperbolic discounting and (possibly) hyperbolic technical progress. On its optimal path, generally, welfare-equivalent income > wealth-equivalent income > Sefton-Weale income > NNP; and sustainable income = NNP only if c...

Previous research shows that technical progress at the industry level, measured by sectoral TFP growth, is more localized in continental European countries than in Anglo-Saxon countries. We use EU KLEMS data sets to decompose sectoral TFP for nine European countries by means of a Malmquist approach, in order to separate technical change. Applying Harberger diagrams, we describe the sectoral pat...