| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7510 |
| DP7510 A defence of the FOMC | |
| Thomas Sargent; Martin Ellison | |
| 发表日期 | 2009-10-18 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper contributes to the literature on both embodied technical progress and firm dynamics, by formulating an endogenous growth model where selection and imitation play a fundamental role in helping capital good producers to learn about the productivity of technologies embodied in new plants. By calibrating the model to some key aggregates particularly relevant for the embodied capital literature, among them the growth rate of the relative investment price, the model quantitatively replicates the main facts associated to firm dynamics, such as the entry rate and the tail index of the establishment size distribution. In line with the previous literature, it also predicts a contribution to productivity growth of embodied technical progress and selection of around 60%. |
| 主题 | International Macroeconomics |
| 关键词 | Endogenous growth Investment-specific technological change Selection and imitation Firm entry and exit |
| URL | https://cepr.org/publications/dp7510 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536346 |
| 推荐引用方式 GB/T 7714 | Thomas Sargent,Martin Ellison. DP7510 A defence of the FOMC. 2009. |
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