Transition dynamics in vintage capital models
explaining the postwar catch-up of Germany and Japan
by Simon Gilchrist
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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 empirical properties of Germany and Japan's postwar transitions, including persistently high but declining rates of labor and total-factor productivity growth, a U-shaped response of the capital-output ratio, rising rates of investment and employment, and moderate rates of return to capital"--National Bureau of Economic Research web site.
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Transition dynamics in vintage capital models: explaining the postwar catch-up of Germany and Japan
2004, National Bureau of Economic Research
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Transition dynamics in vintage capital models: explaining the postwar catch-up of Germany and Japan
2004, National Bureau of Economic Research
in English
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Transition dynamics in vintage capital models: explaining the postwar catch-up of Germany and Japan
2001, Federal Reserve Bank of Boston
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Transition dynamics in vintage capital models: explaining the postwar catch-up of Germany and Japan
2001, Boston University, Institute for Economic Development
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Edition Notes
Includes bibliographical references.
Title from PDF file as viewed on 1/10/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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| December 13, 2020 | Edited by MARC Bot | import existing book |
| December 3, 2010 | Edited by Open Library Bot | Added subjects from MARC records. |
| December 3, 2010 | Edited by Open Library Bot | Added subjects from MARC records. |
| December 10, 2009 | Created by WorkBot | add works page |