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Understanding How a Change in Technology or Resources Affects …
WitrynaBox C.1: Technological change in a production possibility frontier (PPF) framework The production possibility frontier (PPF) of an economy describes the amount of output … Witrynaneutral technological progress, the model includes a source of technological change that is associated with improvement in the quality of investment goods that becomes embodied in the productive capital stock. The model differs slightly from Greenwood, Hercowitz, and Krussell in two respects: First, the model in this paper treats … biotics prostate
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