Munich Personal RePEc Archive

Investment Specific Technological Progress and Structural Change

Araujo, Ricardo Azevedo and Teixeira, Joanílio Rodolpho (2010): Investment Specific Technological Progress and Structural Change. Published in: Estudos Econômicos , Vol. 40, No. 4 (October 2010): pp. 819-829.

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In this paper we introduce investment specific technical progress into Pasinetti’s model of structural change. Our aim is to assess effects of embodied technical progress on structural change. Our findings suggest that despite the fact that this type of technical progress increases the productivity of capital, negative effects are also generated on levels of employment and on conditions that promote equilibrium.

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