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We provide industry-level estimates of the elasticity of substitution (σ) between capital and labor in the US economy. We also estimate rates of factor-augmentation. Aggregate estimates are produced using the same data. Our empirical model comes from the first-order conditions associated with a...
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intuitively and empirically appealing. This book investigates the impact of U.S.A. patent activity on technical change in 35 … appealing. This book investigates the impact of U.S.A. patent activity on technical change in 35 industries given in the KLEM …
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