Biased Technical Change and Economic Conservation Laws

Download or read book Biased Technical Change and Economic Conservation Laws written by Ryuzo Sato and published by Springer Science & Business Media. This book was released on 2006-06-01 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productivity of inputs is an important determinant of the competitiveness of firms in national and international markets. Productivity growth arises from deliberate decisions to innovate but the technological opportunities could be such that different inputs would have different rates of growth. Previous literature has mostly concentrated on labor productivity but empirical studies indicate that productivity of capital is also increasing. One of the objectives of this book is to examine the difference or bias in the productivity growth of the two inputs. In this book, application of this general approach to study of biased technical change is developed and new empirical results presented for both macroeconomies and microeconomic firms.