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We consider a neoclassical interpretation of Germany and Japan's rapid postwar growth that relies on a catch-up mechanism through capital accumulation where technology is embodied in new capital goods. Using a putty-clay model of production and investment, we are able to capture many of the key...
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Presentation to the University of San Francisco Center for the Pacific Rim, San Francisco, California, November 14, 2012
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Presentation to the University of San Francisco Center for the Pacific Rim, San Francisco, California, November 14, 2012
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