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A New Technical Progress Function (1962)

Author

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  • Christian von Weizsäcker Carl

    (MPI Gemeinschaftsgüter,Bonn, Germany)

Abstract

In this paper, I show that labour-saving or capital-saving technical progress is induced by the distribution of income between capital and labour. In the long run, technical progress is Harrod neutral. The long-run equilibrium factor income distribution is determined by a parameter of the technical progress function.

Suggested Citation

  • Christian von Weizsäcker Carl, 2010. "A New Technical Progress Function (1962)," German Economic Review, De Gruyter, vol. 11(3), pages 248-265, August.
  • Handle: RePEc:bpj:germec:v:11:y:2010:i:3:p:248-265
    DOI: 10.1111/j.1468-0475.2010.00512.x
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