TY  - CHAP
AB  - The vintage model of capital accumulation predicts that technical progress depends on the installation of new capital equipment. In this chapter it is found that investment raises labor productivity in the G7 countries and Australia. This finding implies that the decline in investment during the global financial crisis will have a long lasting detrimental effect on labor productivity and hence wages.
VL  - 11
SN  - 978-1-78052-397-2, 978-1-78052-396-5/1574-8715
DO  - 10.1108/S1574-8715(2011)0000011023
UR  - https://doi.org/10.1108/S1574-8715(2011)0000011023
AU  - Pawley John
AU  - Juerg Weber Ernst
ED  - Olivier de La Grandville
PY  - 2011
Y1  - 2011/01/01
TI  - Chapter 18 Investment, Technical Progress, and the Consequences of the Global Economic Crisis
T2  - Economic Growth and Development
T3  - Frontiers of Economics and Globalization
PB  - Emerald Group Publishing Limited
SP  - 483
EP  - 492
Y2  - 2024/09/26
ER  -