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A Proof of the Invalidity of Proposition 15.12 in Acemoglu (2009)
2017
Social Science Research Network
This note proves that unless the amount of scientists , the proposition 15.12 in Acemoglu (2009) does not hold. Because this is an extremely restrictive requirement, it is not suitable as a proof of why the technological progress must be labor-augmenting on the BGP. Proposition 15.12 Consider the baseline model of directed technological change with the two factors corresponding to labor and capital. Suppose that the innovation possibilities frontier is given by the knowledge spillovers
doi:10.2139/ssrn.2982893
fatcat:dhql4zbhw5hvpfo7pzm3ef5rlm